Insights & Commentary
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Weekly market commentary and long-form insights from the CAPTA Wealth team — covering global markets, macro trends and the long-term thinking behind our positions.
150 notes published since 2022 — latest from October 2026.
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149 earlier notes
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2026 39 posts
2025 43 posts
2024 35 posts
2023 32 posts
2022 1 posts
25 October 2026
Weekly Review: Markets Reassess Risk
Technology shares slid on renewed AI investment concerns, with the S&P 500 down 0.47% and Brent above $116 per barrel, while Treasury cut South Africa's 2026 growth forecast to 1.2%, the JSE fell 2.63% and the rand weakened to R16.58.
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11 October 2026
Weekly Review: Markets Rise, Consumers Remain Cautious
US shares advanced, with the S&P 500 up 1.15%, as Brent ended at $104.34 amid tanker attacks in the Strait of Hormuz, while the JSE edged 0.14% higher and the rand firmed 0.86% to R16.50 despite a 4.3% fall in manufacturing output.
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4 October 2026
Weekly Review: U.S. Hiring Stalls as Bond Rout Pauses
US payrolls rose by just 29,000 in September as unemployment edged up to 4.2%, prompting a partial bond rally after the 10-year Treasury yield hit 5.33%, while the JSE fell 2.21% and the rand weakened 2.26% to R16.64.
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27 September 2026
Weekly Review: Bonds Under Pressure as Rates Rise
US 10-year and 30-year Treasury yields climbed to their highest levels since 2007 and 2004 on surprisingly strong US data, while the SARB lifted the repo rate by 25 basis points to 7.25% and the JSE fell 1.9%.
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20 September 2026
Weekly Review: Policy Tightens as Growth Holds Up
The Federal Reserve and Bank of Japan raised rates while the Bank of England held at 3.75%, as the US 10-year yield briefly topped 5.0% and South African shares fell 1.88% on a 4.56% slide in resources.
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13 September 2026
Weekly Review: Global Bond Yields Reach Fresh 2026 Highs
Renewed US-Iran conflict lifted Brent crude to $104.35 a barrel and pushed government bond yields to fresh 2026 highs in the US, UK and Germany, while South African GDP contracted for the first time in six quarters.
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6 September 2026
Weekly Review: US Payrolls Rebound Sharply
US nonfarm payrolls rose 162,000 in August, well ahead of expectations, while escalating US-Iran hostilities pushed Brent crude 8.64% higher and global sovereign bond yields to multi-year highs.
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30 August 2026
Weekly Review: Markets Balance Resilient Growth Against Persistent Inflation
Strong NVIDIA earnings and falling oil prices lifted global markets modestly higher, tempered by Fed Chair Kevin Warsh's Jackson Hole address, while South African financial, industrial and property shares offset weakness in resources.
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23 August 2026
Weekly Review: Dollar Slides to Three-Month Low on Treasury Buyback Surprise
Elevated Treasury yields, renewed US-Iran tensions and higher oil prices weighed on global equities, while a surprise expansion of the Treasury's long-bond buyback programme pushed the dollar to a three-month low and helped the JSE rally over 3%.
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16 August 2026
Weekly Review: Mixed Markets as Inflation Cools
Signs of renewed inflation moderation supported fresh highs in parts of the U.S. equity market, with the S&P 500 up 0.36% while the Dow declined, as Japan outperformed and South African markets had a difficult week.
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9 August 2026
Weekly Review: Markets Rally as Soft Jobs Data Cools Rate Hike Fears
A surprisingly weak U.S. jobs report saw markets price out a September Fed hike, driving the S&P 500 up 3.6% and the Nasdaq 5.2% higher in their best week since April, while South African assets rallied on encouraging policy signals.
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26 July 2026
Weekly Review: Markets Pause as Oil Surges and AI Optimism Faces Its First Test
Renewed Middle East tensions pushed Brent crude 11.52% higher to $98.25 a barrel and growing scrutiny of AI investment weighed on technology shares, sending the Nasdaq down 2.13%, while the South African Reserve Bank left the repo rate unchanged at 7.00%.
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12 July 2026
Weekly Review: Geopolitics and AI Keep Markets on Edge
Renewed U.S.-Iran hostilities lifted oil and briefly unsettled markets, but renewed strength in semiconductor and AI shares helped U.S. equities recover, with the S&P 500 up 1.23% even as European markets fell.
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5 July 2026
Weekly Review: U.S. Labour Market Cools
U.S. job growth slowed sharply in June, with payrolls well below expectations and prior months revised down, reinforcing signs of a cooling labour market as global equities ended the week higher.
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28 June 2026
Weekly Review: AI Pressure Tests Risk Appetite
A sharp sell-off in technology and AI-linked shares rattled global markets, with semiconductors falling hard as investors questioned how far the AI trade had already run.
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21 June 2026
Weekly Review: Markets Rally as Central Banks Stay Cautious
Global markets rose as a temporary U.S.-Iran peace agreement sent Brent crude down more than 7%, though the Federal Reserve, Bank of England and others kept rates on hold and cautioned that inflation risks remain.
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14 June 2026
Weekly Review: Blast Off
SpaceX's record-breaking $75 billion listing became the largest IPO in history, stealing the headlines as global equities pushed higher despite a volatile week dominated by the U.S.-Iran conflict and a contradictory U.S. inflation picture.
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11 June 2026
MONTHLY MARKET OVERVIEW & COMMENTARY | MAY 2026
May delivered another positive month for global equities, although market leadership remained narrow and concentrated in companies linked to artificial intelligence, while improving US-Iran negotiations toward month-end helped ease pressure on energy markets.
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7 June 2026
Weekly Review: Stronger Data Shifts the Rate Debate
A stronger-than-expected U.S. jobs report reminded investors that good economic news is not always good for markets, lifting the odds of a Fed rate hike by December and weighing on global equities and bonds.
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31 May 2026
Weekly Review: Oil Relief Lifts Markets, But Inflation Risks Linger
A sharp fall in oil prices on hopes of a U.S.–Iran agreement eased inflation concerns and lifted equities, while the SARB delivered its first rate hike in three years and the VIX dropped from above 30 to below 16.
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24 May 2026
Weekly Review: AI Momentum Lifts Risk Assets Amid Inflation Concerns
Renewed momentum in AI-related shares and hopes of easing Middle East tensions lifted major global equity markets, even as higher oil prices pushed up rate expectations and South African inflation accelerated ahead of the SARB decision.
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17 May 2026
Weekly Review: Inflation Resurgence Clouds Market Sentiment
U.S. headline inflation accelerated to 3.8% in April, its highest since May 2023, as higher energy prices and elevated Treasury yields offset AI-driven optimism and left major equity indices broadly weaker.
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10 May 2026
Weekly Review: Earnings Momentum and Firmer Data Support Risk Assets
U.S. equities advanced as a resilient earnings season and a firmer labour market eased growth concerns, while Moody's struck a more constructive tone on South Africa's fiscal outlook.
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3 May 2026
Weekly Review: Upbeat Earnings Drive Records as the Middle East Keeps Markets on Edge
A strong U.S. earnings season pushed the S&P 500 and Nasdaq to record highs, capping the best month for the S&P 500 since November 2020, while the closed Strait of Hormuz and a fracturing OPEC kept oil markets on edge.
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26 April 2026
Weekly Review: U.S. Resilience Persists Despite Rising Pressures
U.S. retail sales posted their strongest monthly increase since early 2023 and most major U.S. equity indices reached record highs, even as the Iran conflict pushed oil prices sharply higher and consumer sentiment weakened.
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5 April 2026
Iran Conflict Stokes Inflation Fears
Global equity markets ended a volatile, holiday-shortened week in positive territory, with tentative signs of Middle East de-escalation lifting sentiment.
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29 March 2026
Markets Navigate Rising Energy Risks
Global markets faced a turbulent week as the escalating conflict in the Middle East continued to overshadow economic fundamentals, driving oil prices above $100 a barrel for the first time in over three years.
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15 March 2026
Middle East Conflict Dominates
Global markets faced a turbulent week as the escalating conflict in the Middle East continued to overshadow economic fundamentals, driving oil prices above $100 a barrel for the first time in over three years.
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8 March 2026
Geopolitical Risks Weigh on Global Markets
Global markets experienced a volatile week as a combination of geopolitical tensions and economic data created what many investors described as a “perfect storm” in markets.
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1 March 2026
Volatility Flares, Fundamentals Hold
Global markets experienced a more volatile week as investors digested a mix of economic data, earnings releases and ongoing geopolitical and trade uncertainty.
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22 February 2026
US GDP Growth Slows
Data released by the Bureau of Economic Analysis BEA showed that U.S. growth slowed more than expected in the fourth quarter of 2025, with GDP expanding at an annualised 1.4%.
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15 February 2026
Inflation Cools While the US Labour Market Stays Resilient
The latest inflation data released in the U.S. by the Bureau of Labor Statistics showed further signs of easing price pressures in January.
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8 February 2026
Markets Rotate as Technology Leadership Pauses
Global markets delivered a mixed performance this week as investors navigated a combination of economic data, shifting policy expectations and evolving sector leadership.
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1 February 2026
U.S. Confidence Slides in January
After three consecutive cuts, the Federal Reserve left the fed funds rate unchanged at 3.50%–3.75%, in line with expectations, in a 10–2 vote, with two officials favouring a 25-basis-point reduction.
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25 January 2026
Volatility Flares, Fundamentals Hold
Global markets navigated another week shaped by geopolitical uncertainty and shifting investor sentiment, as renewed U.S.
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18 January 2026
Global Markets Mixed as Resources Rally
Global equity markets delivered mixed performances over the week, with small-cap and value stocks extending their year-to-date outperformance relative to large-cap and growth-oriented shares.
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11 January 2026
US hiring slows and SA PMI disappoints, but markets hold firm
US markets began the year on a confident footing. The Dow Jones rose 2.32% over the week, while the S&P 500 gained 1.57% and the Nasdaq advanced 1.88%. This was not just a technology-driven rally.
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4 January 2026
2025 - A Strong Year for Investors
As we kick off 2026, we’d like to wish you a happy, healthy and prosperous year ahead. As always, we remain focused on helping investors navigate an evolving global landscape with discipline, perspective and a long-term…
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22 October 2025
Week in Review: China Trade Tensions Ease
However, Thursday saw renewed volatility as the Dow fell 300 points and the S&P 500 declined 0.6%, dragged lower by regional banks.
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12 October 2025
Week in Review: Trade Tensions & Shutdown Weigh on Markets
European data signalled continued weakness, led by a 4.3% drop in German industrial production in August, driven by auto sector declines and broader softness across manufacturing.
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5 October 2025
Week in Review: Markets Remain Steady Amid U.S. Shutdown
The Bank of Japan BoJ signalled that it remains on a gradual tightening path but provided limited guidance on the timing of its next rate hike.
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29 September 2025
Week in Review: US Inflation Holds Steady
Fed Chair Jerome Powell reiterated this week that while inflation expectations remain anchored near the Fed’s 2% target, downside risks to employment and elevated uncertainty leave policymakers without a “risk-free” policy path.
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21 September 2025
Week in Review: Federal Reserve cuts rates for first time this year
Major U.S. stock indexes hit record highs during the week. The Nasdaq Composite advanced 2.21%, while the S&P 500 and Dow Jones Industrial Average gained 1.22% and 1.05%, respectively. Meanwhile, the yield on the U.S.
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14 September 2025
Week in Review: Softer Jobs keep Fed on Rate-Cut Path
In Europe, the ECB left rates unchanged at 2% but lifted its 2025 inflation and growth forecasts, prompting markets to assume that interest rate cuts are over in the region.
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7 September 2025
Week in Review: Soft US Jobs Data Boosts Fed Cut Bets
In response to the jobs report, futures markets tracked by the CME FedWatch tool now reflect a 100% probability of at least a 25-basis-point (0.25 percentage point) rate cut at the Fed's next meeting.
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31 August 2025
Week in Review: US GDP Surpasses Expectations
The U.S. has raised tariffs on most Indian imports to 50%, doubling the previous rate and extending them to sectors including garments, jewellery, seafood, and furniture.
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24 August 2025
Week in Review: Federal Reserve Signals Dovish Shift
UK annual inflation rose to 3.8% in July, the highest in 18 months, fuelled by higher food and airfare costs. Services inflation, a key gauge for the Bank of England, also climbed to 5.0% from 4.7%.
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17 August 2025
Week in Review: Markets Rise on Growing Fed Cut Expectations
In the UK, GDP growth surprised on the upside, with the economy expanding 0.4% in June and 0.3% for the second quarter, ahead of expectations but slower than earlier in the year.
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4 August 2025
Week in Review: Global stocks fall amid Tariff Concerns
The July employment report missed expectations by a wide margin. Nonfarm payrolls rose by just 73,000, well below the 100,000 forecast.
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28 July 2025
Week in Review: US and Japan Reach Trade Agreement
At its 24 July meeting, the European Central Bank held its deposit rate steady at 2.0% after eight consecutive cuts since June 2024.
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20 July 2025
Week in Review: Robust U.S. Data Drives Stocks to Record Highs
With the August 1 deadline nearing, U.S. trade talks continue. President Trump announced a deal with Indonesia involving the purchase of Boeing jets, energy, and agricultural goods, while setting U.S.
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13 July 2025
Week in Review: Tariff Threats Resurface
In other news, a senior Trump administration official claimed on Friday that Fed Chair Jerome Powell is "considering resigning" amid calls for a probe into whether he misled Congress about costly renovations to the…
Read More 10 July 2025
MONTHLY MARKET OVERVIEW & COMMENTARY | JUNE 2025 REBOUNDING CONFIDENCE BUT VOLATILITY LINGERS
June saw a robust recovery across global equity markets as geopolitical tensions eased and investors welcomed signs of progress on trade, especially between the U.S. and China. U.S.
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6 July 2025
Week in Review: U.S. Job Growth Beats Expectations
Eurozone inflation edged up in June, with the headline rate reaching the ECB’s 2.0% target, up from 1.9% in May. Core inflation remained steady at 2.3%, signalling persistent underlying price pressures.
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29 June 2025
Week in Review: Markets rise on Improved Geopolitical, Trade Outlook
U.S. stocks rallied over the week, lifted by a string of positive developments, including easing tensions in the Middle East, dovish signals from several Federal Reserve officials, news of a signed U.
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22 June 2025
Week in Review: Markets Pause Amid Inflation Watch
This week’s U.S. data painted a mixed picture. Retail sales fell 0.9% in May, and housing starts dropped to a five-year low, underscoring ongoing pressure in the residential property sector.
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15 June 2025
Week in Review: Oil Prices Soar
The US May consumerprice data surprised on the downside. Headline CPI rose 0.1 % m/m consensus: 0.3 % and 2.4 % y/y, while core CPI held steady at 2.8 % y/y.
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8 June 2025
Week in Review: U.S. Job Growth Slows in May
Eurozone GDP grew by 0.6% quarter-on-quarter in Q1, double the initial estimate and the fastest pace since Q3 2022. According to Eurostat, the upward revision was led by stronger growth in Ireland and Germany.
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1 June 2025
Week in Review: Court Ruling May Spur Trump Tariff Shift
The Euro Stoxx 50 ended the week 0.76% higher, after U.S. President Trump said he would give the European Union more time to negotiate a trade deal before 50% tariffs take effect. In the UK, services sector confidence…
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26 May 2025
Week in Review: Markets Pause as Fiscal Risks Resurface
The Moody’s downgrade stripped the U.S. of its last triple-A rating, citing a lack of progress in curbing deficits and rising interest costs.
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18 May 2025
Week in Review: US–China Tariff Pause Lifts Market Sentiment
U.S. retail sales growth slowed sharply in April, with headline sales up just 0.1% after a 1.7% surge in March.
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11 May 2025
Week in Review: U.S. and UK agree to trade deal
High-level trade negotiations between the U.S. and China are set to resume in Switzerland this weekend. U.S.
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4 May 2025
Week in Review: U.S. Equities Regain Ground Lost in April
Eurozone economic growth picked up to 0.4% in Q1, doubling the prior quarter’s pace and beating the 0.2% consensus forecast from FactSet.
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27 April 2025
Week in Review: Markets Rally Amid Softer Trade Tensions
Safe-haven assets such as gold attracted strong inflows, with bullion prices surging to an intra-week high above $3,500 per ounce, reflecting ongoing concerns around geopolitics and inflation.
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20 April 2025
Week in Review: Recession fears mount
On the economic front, U.S. retail sales rose 1.4% in March, marking the biggest increase in over two years.
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13 April 2025
Week in Review: March CPI Reveals Inflation Progress Amid Trade Tensions
President Trump announced a 90-day deferral of higher reciprocal tariffs for most U.S. trading partners to facilitate negotiations. However, China was excluded from the pause, with the U.S.
Read More 7 April 2025
NAVIGATING THE STORM | U.S TARIFFS AND YOUR INVESTMENTS
In light of the recent market volatility following President Donald Trump’s announcement of sweeping new tariffs last week, we want to provide clarity on what’s happening, how it may impact markets, and most importantly…
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6 April 2025
Week in Review: Trump’s Tariffs Spark Fears
Stock markets fell sharply this past week following the Trump administration’s announcement of sweeping new tariffs. From 5 April, the U.S.
Read More 30 March 2025
Week in Review: U.S. consumer sentiment falls on economic fears
The Euro Stoxx 50 Index closed -1.70% over the week as Trump’s fresh auto tariffs hurt sentiment. The blanket application was the worst-case scenario for Europe, as there had been hopes that some countries might be…
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23 March 2025
Week in Review: Fed Holds Rates Steady Amid Rising Economic Uncertainty
The U.S. Federal Reserve held interest rates steady at 4.25% to 4.5% following its latest policy meeting, but officials signalled the possibility of two rate cuts later this year.
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16 March 2025
Week in Review: Tariff Uncertainty Rattles Markets
Trade tensions escalated midweek as the U.S. imposed a 25% tariff on steel and aluminium imports. In response, Canada implemented its own 25% tariffs on U.S.
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9 March 2025
Week in Review: U.S. stocks sell off amid trade policy uncertainty
Incoming German Chancellor Friedrich Merz backed a plan to invest over €1 trillion in defense and infrastructure, exempting defense from Germany’s strict debt limits.
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2 March 2025
Week in Review: Trade Tensions Fuel Market Volatility
Global markets experienced heightened volatility, with the Nasdaq recording its steepest decline since September as technology stocks tumbled. The so-called Magnificent Seven, particularly NVIDIA, s
Read More 1 March 2025
MONTHLY MARKET OVERVIEW & COMMENTARY | FEBRUARY 2025
After a strong start to 2025, February took a sharp turn as the world felt the full impact of Trump 2.0’s policy shift, with the announcement of tariffs targeting Canada, Mexico, and China on the very first day of the month.
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23 February 2025
Week in Review: China's Tech Rally Extends on Earnings
The January Federal Open Market Committee FOMC minutes highlighted the need for further progress on inflation before considering rate cuts, with trade and immigration policies cited as potential factors affecting the outlook.
Read More 16 February 2025
Week in Review: Global Indices Rally Amid Improved Sentiment
The three major U.S. indices ended the week in the green, as sentiment improved after investors got more certainty around President Donald Trump’s tariff plans, while new inflation data wound up being more constructive…
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9 February 2025
Week in Review: Stocks Lower Amid Tariff Uncertainty
Major U.S. indexes fell this week, with the S&P 500 faring best, dropping just 0.24%. Stocks dropped sharply at the start of the week following President Trump’s Friday announcement of 25% tariffs on Mexico and Canada…
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26 January 2025
Week in Review: South Africa's Inflation Eases
Political developments were a key focus this week following President Donald Trump’s inauguration on Monday. Trump ordered a review of U.S. trade policies, with plans to implement 25% tariffs on Canada and Mexico by February.
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19 January 2025
Week in Review: Inflation Fears Ease
This week’s economic indicators and market performance signal cautious optimism, with inflation cooling in key regions and corporate earnings boosting confidence.
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13 January 2025
Week in Review: Trump Sparks Global Market Volatility
Markets started the week on a high note following reports of a softer stance on tariffs from the incoming U.S. administration.
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5 January 2025
Week in Review: Stocks close out another strong year
Major stock indexes showed mixed performance during the holiday-shortened week, though a strong rally on Friday helped mitigate earlier losses.
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29 December 2024
Week in Review: UK GDP Growth Stagnates
Revised figures from the UK’s Office for National Statistics revealed that the economy showed no growth in the three months to September.
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22 December 2024
Week in Review: Fed Signals Cautious Rate Easing
US Treasuries faced negative returns this week as the 10-year yield climbed to its highest level since May, surpassing 4.50%.
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15 December 2024
Week in Review: U.S. Inflation Remains Steady
The European Central Bank ECB cut its deposit rate by 25 basis points to 3.0% but signalled a cautious stance on future easing, while the Swiss National Bank SNB surprised with a larger cut of 50 basis points to 0.5%…
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20 October 2024
U.K. and Eurozone Inflation Surprise to the Downside
As of Friday, approximately 11% of S&P 500 constituents have reported their Q3 2024 earnings. The blended earnings per share EPS, which includes both reported results and estimates for those yet to announce, indicates…
Read More 1 October 2024
MONTHLY MARKET OVERVIEW & COMMENTARY | SEPTEMBER 2024
Although August began with notable volatility, global markets performed well during the third quarter of 2024, with gains across both equities and fixed income.
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30 September 2024
China Rolls Out Stimulus
China has responded to mounting public pressure by implementing a series of significant policy actions after months of gradual measures.
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23 September 2024
U.S. Begins Rate-Cutting Cycle
This week saw significant monetary policy shifts across major economies, with the Federal Reserve and the South African Reserve Bank (SARB) implementing their first interest rate cuts in years. The U.
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16 September 2024
Gold hits all-time highs
Gold surged to new record highs this week, driven by a weakened US dollar. Spot gold closed the week at $2,577 per ounce, marking a 3.2% increase.
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9 September 2024
Weak U.S. Economic Data Weighs on Sentiment
The S&P 500 Index experienced its steepest weekly decline in 18 months, driven by growing concerns over an economic slowdown. The information technology sector led the downturn, with Nvidia shares particularly hard hit.
Read More 1 September 2024
MONTHLY MARKET OVERVIEW & COMMENTARY | AUGUST 2024
Global equities faced a challenging start to August, with the S&P 500 dropping over 6% in the first three trading days and the Magnificent Seven falling nearly 10% in the first week.
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26 August 2024
Fed Signals Time for Rate Cuts
Federal Reserve Chair Jerome Powell signalled that the Fed is gearing up for a series of interest rate cuts during his annual address at Jackson Hole, Wyoming, stating, 'The time has come for policy to adjust’.
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19 August 2024
July Inflation Eases, Fuelling Fed Rate Cut Hopes
U.S. retail sales exceeded expectations in July, rising by 1.0% following a downwardly revised 0.2% decline in June, according to the Commerce Department’s Census Bureau.
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12 August 2024
A Volatile Week for Markets
Global financial markets experienced renewed volatility this week, driven by concerns over a potential U.S. recession, which many consider premature.
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5 August 2024
Divergence in Central Bank policy
Global equity markets fell this week amid growing concerns about a slowing US economy. The Institute for Supply Management’s ISM manufacturing index slumped, and weekly jobless claims rose, intensifying fears of a…
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30 July 2024
Week in Review: Bullish US inflation data lifts investor sentiment
Data released Friday morning showed the Personal Consumption Expenditures price index, the US Federal Reserve’s preferred measure of underlying US inflation, slowing to 2.5% from a year ago in June, matching estimates…
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11 July 2024
MONTHLY MARKET OVERVIEW & COMMENTARY | JUNE 2024
Global equity markets continued their rally in June, achieving a 1.8% monthly gain, bringing their 2024 increase to 10.1%.
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2 July 2024
GNU - The Wildebeest of SA Politics
The wildebeest, also known as the gnu pronounced "NOO", is often referred to in the South African wildlife community as a "spare parts animal." This nickname is attributed to its unique combination of features: the tail…
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1 July 2024
Week in Review: Markets Hold Strong Amid Mixed Data
U.S. markets recorded modest gains last week despite a shortened trading session due to the Juneteenth holiday closure. The S&P 500 Index hit new all-time highs, driven by strong performances from value stocks over growth shares.
Read More 18 June 2024
MONTHLY MARKET OVERVIEW & COMMENTARY | MAY 2024
Despite bouts of market volatility in the final stretch of May, most major global markets ended the month with robust performance.
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18 June 2024
Week in Review: ANC, DA & IFP sign agreement to form national government
Throughout Friday, the ANC/DA/IFP Government of National Unity GNU secured control of the country’s key legislatures.
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28 May 2024
Week in Review: Nvidia Closes Out U.S. Earnings Season with a Beat
U.S. stock markets ended the week mixed, with the Dow Jones Industrial Average recording its biggest weekly loss since early April, down 2,33%, while the NASDAQ Composite continued to march higher into record territory.
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20 May 2024
Weekly Note – Resurging Inflation Concerns Subside
This week, investors remained closely attuned to Wednesday’s U.S. inflation report for April, which revealed figures largely in line with or slightly below expectations.
Read More 13 May 2024
MONTHLY MARKET OVERVIEW & COMMENTARY | APRIL 2024
After five consecutive months of gains, most major global markets, except for a few outliers, ended April in the red.
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13 May 2024
UK Economy Bounces Back
In the US, initial filings for unemployment benefits have surged to their highest level since late August 2023, suggesting a potential shift in what has otherwise been a robust labour market.
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5 May 2024
Week in Review: Fed Rate Hike Fears Fade
Ahead of Wednesday’s press conference following the latest Federal Open Market Committee FOMC meeting, markets anticipated a hawkish response due to recent higher-than-expected inflation figures.
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29 April 2024
Week in Review: US Growth & Inflation
The Commerce Department’s advanced GDP print released on Thursday showed the U.S. economy grew 1.6% in the January-through-March period Q1 of 2024, much weaker than was expected and the slowest pace of growth in nearly two years.
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22 April 2024
Week in Review: Higher-for-Longer U.S. Interest Rates
U.S. equities saw their third consecutive week of losses, influenced by concerns over Middle East tensions and enduring high U.S. interest rates.
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26 March 2024
Week in Review: Central banks take centre stage
All three major U.S. indices moved higher this week, with the S&P 500 gaining 2.3%. The Dow was also up 1.97% for its best week since December. The Nasdaq was the outperformer of the three, gaining 2.
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19 March 2024
Week in Review: Markets Await Central Bank Decisions
Financial markets got off to a quiet start this week, as investors awaited the release of the U.S. consumer inflation data on Tuesday.
Read More 12 March 2024
MONTHLY MARKET OVERVIEW & COMMENTARY | FEBRUARY 2024
Following a promising start to 2024, the global equity market continued to gain momentum throughout February, amidst economic resilience in the US.
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11 March 2024
Week in Review: Bitcoin surges to all-time highs, while SA narrowly avoids recession
U.S. stock markets experienced mixed performance as long-term interest rates fell amid concerns about a cooling labour market. While the S&P 500 Index reached record highs earlier in the week, they pulled back late Friday.
Read More 19 February 2024
Week in Review: Hotter than expected US inflation
U.S. consumer prices rose more than expected in January, amid stubbornly high shelter prices. The increase in prices reported by the Labor Department on Tuesday was the largest in four months, the report showed that…
Read More 29 January 2024
Week in Review: Interest Rates Steady, while U.S. Growth Surprises
Global equity markets experienced positive momentum during the week, buoyed by steady interest rate decisions and better-than-expected U.S. GDP growth.
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22 January 2024
Week in Review: Expectations Shift on Interest Rate Cuts
Despite experiencing upward momentum last week, the markets in 2024 have been characterised as restrained and somewhat uneven.
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14 January 2024
Week in Review: Middle East Tensions Escalate
Geopolitical tensions continued to escalate in the Middle East over the week with the US and the UK carrying out multiple airstrikes on more than a dozen Houthi rebel targets in Yemen.
Read More 11 December 2023
MONTHLY MARKET OVERVIEW & COMMENTARY | NOVEMBER 2023
The fears that have dragged on the stock market since August evaporated in November as global markets surged, reversing losses compounded over the three prior months.
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27 November 2023
Week in Review: Thanksgiving Week for Markets
As the United States celebrated Thanksgiving on Thursday, global markets experienced a more subdued week. Most stock markets have shown a decent recovery from this time last year.
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20 November 2023
Week in Review: Markets rally on the back of softer inflation data
Global equity markets experienced a rally over the week as investors processed slower inflation prints in various developed economies.
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6 November 2023
Week in Review: Markets Gain as Jobs Slow
The U.S. economy saw job creation decelerate in October, confirming persistent expectations for a slowdown and possibly taking some heat off the Federal Reserve in its fight against inflation.
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23 October 2023
Week in Review: Risk off, as investors digest geopolitical uncertainty
Heightened geopolitical tensions and a surge in long-term bond yields to their highest level in 16 years had a negative impact on investor sentiment this week.
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20 October 2023
MONTHLY MARKET OVERVIEW & COMMENTARY | SEPTEMBER 2023
Investors are tending to their losses as the final quarter of 2023 commences, following a challenging September which saw global equity markets fall for a second consecutive month.
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9 October 2023
Week in Review: U.S. jobs data surprises
In September, the U.S. economy saw the creation of 360,000 new jobs, and an extra 119,000 positions were included in the count through revisions.
Read More 2 October 2023
Week in Review: Inflation Outlook Improves
In August, the core Personal Consumption Expenditures PCE price index, excluding food and energy, saw a modest 0.1% increase, marking the smallest monthly rise since November 2020.
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25 September 2023
Week in Review: Fed Holds Rates Steady
The Federal Reserve (Fed) paused its extended campaign against inflation this week, holding its benchmark interest rate steady and giving borrowers a breather after 11 hikes since March 2022.
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17 September 2023
Week in Review: Data Dilemma
Crude oil surged above the $90 per barrel mark for the first time since November 2022. Concerns around supply shortfalls heading into the last quarter of 2023 saw the commodity catch a strong bid, at Friday’s close…
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11 September 2023
MONTHLY MARKET OVERVIEW & COMMENTARY | AUGUST 2023
Global markets faced a challenging August, characterized by mixed economic data, a persistently hawkish Federal Reserve, rising sovereign bond yields and worries over renewed weakness in the Chinese real estate sector.
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11 September 2023
Week in Review: China in the Spotlight
In a shortened holiday week, U.S. stock markets closed with losses primarily due to an upward shift in the interest rate outlook, driven by positive economic signals.
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4 September 2023
Week in Review: U.S. unemployment rate hits 17-month high
An increase in the number of job seekers caused the U.S. unemployment rate to rise in August, climbing from 3.5% to 3.8%.
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27 August 2023
Week in Review: Mixed Signals
The annual Jackson Hole symposium hosted by the Federal Reserve Bank of Kansas City commenced on Thursday.
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24 August 2023
Week in Review: US Treasury Yields Rise
Longer-dated U.S. Treasury yields hit a 10-month high this past week as investors focused on the prospects of longer-lasting high-interest rates and a struggling Chinese economy.
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15 August 2023
Week in Review: Softer U.S. Core CPI
The past week witnessed a varied performance in the major U.S. stock markets. Investors grappled with the implications of subdued inflation data against concerns stemming from the recent uptick in long-term interest rates.
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7 August 2023
Week in Review: Fitch Downgrades the U.S.
Global equity markets have had a tough start to August, as Fitch Ratings unexpectedly downgraded the U.S.’s credit rating from AAA to AA+. This marked the second credit downgrade in U.S.
Read More 31 July 2023
Week in Review: A Central Bank Trifecta
The Federal Reserve the Fed, the European Central Bank ECB and the Bank of Japan BoJ all made significant announcements this week.
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24 July 2023
Week in Review: SA's Central Bank Pauses
In June, spending at US retailers continued its positive growth trend for the third consecutive month, showcasing resilience among American consumers.
Read More 14 July 2023
Mid-Year Market and Economic Outlook
As we bid farewell to June and conclude the second quarter of 2023, it’s essential to reflect on the plethora of news and data that has shaped the past three months.
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10 July 2023
Weekly Review: Interest Rates Higher for Longer
After a strong performance in the first half of 2023, markets experienced a slight setback in the first week of the third quarter.
Read More 5 July 2023
Week in Review: Reflecting at the halfway point of 2023
As we bid farewell to June and conclude the second quarter of 2023, it’s essential to reflect on the plethora of news and data that has shaped the past three months.
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25 June 2023
Week in Review: Bank of England surprises markets
On Thursday, the Bank of England, implemented a 50 basis point interest rate hike pushing the lending rate to 5%, surprising markets that had priced in a 60% chance of a 25 bps hike.
Read More11 June 2023
Weekly Review: Mixed data as S&P500 regains bull market status
On Thursday, the S&P500 index experienced a significant development as it entered a bull market. The broad equities benchmark demonstrated a 0.6% increase, concluding the day at 4,292.93 points.
Read More 8 June 2023
Monthly Market Overview & Commentary | May 2023
Almost half-way through 2023 and the month of May has witnessed an interesting mix of news across global markets with the U.S.
Read More 4 June 2023
Weekly Market Review Fed Rate Hike Pause on the Cards
This week marked the end of May, with the S&P 500 reaching its highest level since mid-August 2022 and the Nasdaq Composite hitting its best level since mid-April 2022.
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28 May 2023
Week in Review: U.S. Debt Ceiling negotiations continue
President Joe Biden, House Speaker Kevin McCarthy and their negotiators reached a tentative agreement to raise the debt ceiling on Saturday evening, ending a months-long stalemate.
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20 May 2023
Week in Review: Debt Ceiling talks stall
Market concern eased late in the week, with investors less worried that the U.S. Department of the Treasury will default on its debt in early June.
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14 May 2023
Weekly Note – U.S Inflation Moderates
Following a report released by the Labor Department on Wednesday, the U.S. consumer price index CPI, a widely recognized measure of inflation that assesses the cost of a diverse range of goods and services, showed a…
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7 May 2023
Weekly Review: Rate hikes and Banking stress
The week was marked by volatility in U.S. regional banks after California-based First Republic Bank failed and was taken over by regulators.
Read More 30 April 2023
Monthly Market Overview & Commentary | April 2023
The first quarter of 2023 has been marked by significant uncertainty and market volatility as investors considered the course of inflation, the direction of central bank interest rates, the stability and integrity of…
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8 January 2023
Local Vs Offshore - Where Should You Be Investing:
One should realise that current uncertainty and economic headwinds are a global phenomenon and the secret to any investment success is not about 'timing the market' but rather 'time in the market' and a healthy…
Read More 7 December 2022
Global Market Year in Review 2022
After two turbulent years dominated by COVID-19, the world economy started 2022 in good form and what appeared to be new strength and a degree of optimism.
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