MARKET WATCH- JULY 2023

Global Perspectives The first quarter of 2026 proved to be a volatile and eventful period for global financial markets, dominated by a sharp escalation in geopolitical tensions and a significant energy shock. The closure of the Strait of Hormuz following conflict in the Middle East triggered the largest disruption in global oil supply on record,

Finance Minister Enoch Godongwana delivered South Africa’s 2026 Budget on Wednesday, 25 February 2026. After several years of limited tax relief, this year’s Budget introduces several inflation-linked adjustments that should provide welcome support to individual taxpayers and ease certain pressures on small businesses. While public debt remains elevated (gross loan debt is projected to peak

For those expecting insights about sugar-coated chocolate, apologies for the disappointment. In financial advisory circles, we call those colourful asset class performance tables “smartie boxes.” Here’s the latest from Investec using Morningstar data, showing 18 years of SA rand performance to 2025. I’ve spent many long afternoons trying to see patterns in these tables, but

Global markets continue to be shaped by the dominance of the so-called Magnificent 7 – Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla. Yet these firms now represent something far larger: the Magnificent 70. Through hundreds of acquisitions and multi-sector expansion, they have evolved into powerful global ecosystems driving innovation, infrastructure, and long-term investment growth.

GLOBAL PERSPECTIVES The third quarter of 2025 saw a broad-based rally across most asset classes, driven by easing trade tensions, AI optimism, and rising expectations for near-term rate cuts from the U.S. Federal Reserve. This year has tested investor resolve with a litany of concerns: tariffs and trade wars, inflation, geopolitical tensions, social unrest, soft