Newsflash: Eye of the storm?

Newsflash: Eye of the storm?
SA equities
Source: Bloomberg, *time of writing 06h40, 2020-03-31

The Rand held steady against the US dollar, ending the first day after the Moody’s credit downgrade and is currently below the USD/ZAR18 level (although it did spike past that level intraday). The infection rate in South Africa is not exponential. Global infection rates, though going up, have not spiked, with daily increases holding steady according to Johns Hopkins University data.

The Institute for Health Metrics and Evaluation (University of Washington) has modelled the peak hospital bed requirements for the US as the 15th of April ( New York state the epicentre of the US outbreak is reporting a slowing of the infection rate, but the death rate is still rising. Italy has reported the fewest new cases in two weeks, and the World Heal Organisation has said that they think that Europe may be approaching their peak.

A record fuel price drop is expected tomorrow with a reduction of R1.76 to R1.94 per litre expected depending on the grade and location (inland vs coastal). Diesel, LPG and paraffin will also drop significantly. The South African Property Owners Association and the SA Council of Shopping Centres met online to and agreed that there should be rent holidays for SA’s smaller retailers to try and keep them afloat during this time.

sa coronavirus stats

For more information contact:

Greg Flash
Chief Investment Officer
e., c. +27 72 668 8964
FSP Number 45402, w.
Cinnabar Cape Town, 298 Main Road, Kenilworth, 7708

Windall Bekker
Head of Distribution
e., c. +27 72 191 0492
FSP Number 45402, w.
Cinnabar Cape Town, 298 Main Road, Kenilworth, 7708

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