I must have heard celebratory ululations when Pfizer announced that they have arrived at a Covid vaccine. News had been long awaited as this is seen as the best solution of creating herd immunity and getting the global economy operating in full swing. |
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More good news (at least from an emerging markets perspective) came with Joe Biden’s victory of US election. The sentiment is that Biden will create a ‘trade friendly’ political environment which would lead to the deployment of capital to emerging markets. Indeed, on the back of his victory, we saw an influx of foreign cash into local bonds which resulted in the strengthening of the ZAR. The party hasn’t even started with Biden due to be sworn in as the 46th president of the United States in January 2021. |
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Albeit from a low base, 3rd quarter (quarter-on-quarter) South African GDP printed at a staggering + 66.1%. This however, led to the re-adjustment of SA’s GDP forecasted contraction from - 8.5% to - 7.5% for the year 2020. We may not be out of the woods yet, but it looks as though we are moving in the right direction. |
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Our very own Elon Musk surpasses Bill Gates to become the second-richest person in the world. Jeff Bezos still holds the number one spot. |
