In a week where lost babies and missing iPads seemed to drown out another step in the right direction along the road of structural reform, some policy signals remain mixed. The establishment of the Transnet National Ports Authority as an independent subsidiary of Transnet raises some obvious questions about what independent means in this context.
Gauteng's Covid-19 third wave is more a tsunami as the province's largest public hospital remains closed. Globally markets breathed a sigh of relief after last week's mini temper tantrum and overnight, the positive news of Biden's infrastructure bill receiving bipartisan support all add up to an interesting mix of events for business to digest.
It feels risk-on out there, but the only major indicator that didn't play ball is the US 10-year yield that is struggling to push above the 1.5% level, and it had plenty of reason to do so given the bipartisan agreement to push ahead with a $580bn infrastructure bill. To put things into perspective, Michael Avery is joined by Warwick Lucas, Chief Investment Officer at Galileo Asset Managers, Raymond Parsons, professor in the School of Business and Governance at Northwest University and Isaah Mhlanga, Chief Economist at Alexander Forbes.
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