Currencies, bonds and stocks are rallying despite evidence that the worst of the pandemic is still to come
‘When even the most vulnerable stories are rallying, it is a measure of how tolerant risk appetite has become’Investors are piling into African assets as if the coronavirus pandemic never happened.
Seven of the 12 top-performing developing-nation bond markets this quarter are in Africa. The list includes Angola, which leads the pack with a return of 74% compared with the 9.5% average of peers — even though it’s in discussions to reorganise some of its loans. While African countries are trailing their developed-market peers in infection rates, uncertainty reigns about the trajectory of the disease on a continent that doesn’t have the financial resources available to richer nations to counter the pandemic’s economic and medical effects.
The exuberance may be premature, considering the uncertainty around the nature, spread and potential prevention of Covid-19, according to Jacques Nel, an economist at NKC African Economics.
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.
True or false: once you've had Covid-19 you can't get it againWe asked a trio of medical experts if you can become immune to the coronavirus
Read more »
World No 1 Rory McIlroy heads strong field in Fort WorthPGA Tour returns after three months with no play due to the coronavirus pandemic
Read more »
Doctors and nurses wanted for Western Cape coronavirus fightbackThe province had 11,071 active Covid-19 cases, with 29,136 confirmed cases and 17,366 recoveries by 1pm.
Read more »
Global coronavirus cases top 7 million as outbreak grows in Brazil, India
Read more »
India overtakes Italy's coronavirus tally as lockdown easing loomsIndia reported a record 9,887 new coronavirus cases in one day on Saturday and overtook Italy as the world’s sixth-biggest outbreak.
Read more »
10 KZN liquor outlets shut down for contravening Level 3 lockdown regulationsTen liquor outlets have been shut down by the KwaZulu-Natal Liquor Authority for contravening the coronavirus lockdown regulations, MEC Nomusa Dube-Ncube said.
Read more »