The first six months of 2023 have been eventful for financial markets - from an artificial intelligence inspired tech stock surge, commodity market capitulations, cryptocurrency comebacks to the worst banking crash since Lehman Brothers.
The first six months of 2023 have been eventful for financial markets - from an artificial intelligence inspired tech stock surge, commodity market capitulations, cryptocurrency comebacks to the worst banking crash since Lehman Brothers.
"Basically, things looked so grim at the end of last year that it hasn't taken much to lift the markets," said Trevor Greetham, head of multi asset, Royal London Asset Management. Bonds in El Salvador, which is now battling out of a default, have returned a whopping 58%. Sri Lankan bonds made a return of 34%, Zambia 24% and war-ravaged Ukraine, Pakistan and serial-defaulter Argentina have all made 19%, each.
Egypt has devalued its currency more nearly 20%, Nigeria has cut naira by 40%, while at the other end of the table Colombian and Mexican pesos and Hungary's forint are up between 10% and 17%.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Man Utd 'Agree' First 2023/24 Signing, Deal Worth £60m | Soccer Laduma✅ Manchester United have reportedly agreed their first signing of the 2023/24 season in a deal worth £60 million (R1.4 billion). SLInt MORE:
Read more »
What’s next for 2023?RMB's John Cairns and Wayne McCurrie of FNB Wealth and Investments join the show to discuss the local currency's moves as we end June, the rand compared to other emerging markets, how markets have performed in the first half of the year, risk factors, PGMs exacerbating rand weakness, inflation, interest rates – and do we have anything to look forward to as we enter the second half of the year?
Read more »
Africa's week in pictures: 23-29 June 2023A selection of the best photos from across Africa and beyond this week.
Read more »
A guide to Group B at 2023 Women's World CupA guide to Group B at this summer's Women's World Cup, which will see co-hosts Australia take on debutants Republic of Ireland, Olympic champions Canada and Nigeria.
Read more »
Registration: U.S. - Africa Business Summit 2023
Read more »