Analysis On Fixed Income, Fx & Equity Markets

The South African rand has made a bearish break through six-month trendline support at ZAR6.9300/US$, auguring for further losses over the short term. Although the currency has tentatively... 2011-07-19

BMI View: The Bank of Ghana's decision to cut interest rates by 50 basis points to 12.50% signals a benign view on inflation, but we believe this is somewhat misplaced. Moreover,... 2011-07-07

BMI View: There is not much to like in Sub-Saharan African financial markets at the moment. Although we see upside for East African FX and select equity markets over the near term,... 2011-07-05

Political risks continue to play a major factor in the performance of North African equity markets, in our view, and will likely keep regional indices from outperforming over the medium... 2011-06-30

East Africa remains gripped by a currency crisis. The Kenya, Tanzanian and Ugandan shillings have all sold off sharply since the start of the year and while the Kenyan shilling is tentatively... 2011-06-30

BMI View: We believe the 'oil play' Eurobonds - Gabon, Nigeria, Republic of Congo and Ghana - are at risk of a sell-off, given the bearish outlook for oil prices, although they will... 2011-06-28

BMI View: We hold to our forecasts for South Africa to see real GDP growth of 3.5% in 2011 and 4.0% in 2012. The recovery will continue to be driven by the consumer, and supported... 2011-06-22

South African equities have not been spared amid the latest sell-off in global stocks. Indeed, investor concerns surrounding weak US macroeconomic data and the Greek debt crisis have,... 2011-06-20

BMI remains bullish towards Sub-Saharan African equities over the long term, believing that strong macroeconomic growth, improved liquidity and increased foreign investor interest... 2011-06-15

BMI View: The budgets released by Kenya, Tanzania and Uganda show a necessary drive towards pro-poor spending and infrastructural investments. We are broadly sanguine on Kenya's and... 2011-06-10