The Editorial Team |

The $11 Trillion Emerging-Markets Rally Has Big Backing for 2020

LAGOS (Capital Markets in Africa) – Emerging markets are about to embark on another year of wealth creation after adding $11 trillion to investor portfolios in the past decade. Developing-nation assets will outperform their developed peers, with Asia having the best prospects, according to Bloomberg’s survey of 57 global investors, strategists and traders on their outlook for next year. Total wealth in emerging-market stocks and bonds now exceeds $25 trillion, bigger than the economies of the U.S. and Germany combined….

South African Power Crisis Eases as Eskom Rushes to Fix Plants

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s energy crisis eased as state power utility Eskom Holdings SOC Ltd. scrambled to repair broken plants and supplemented supply using gas turbines and pumped-storage facilities. Power cuts, known locally as load shedding, should be limited to 2,000 megawatts on Wednesday — down from a peak of 6,000 megawatts on Monday — and are expected to end next week, Eskom said in an emailed statement. The outages temporarily…

INFLATION: South Africa, Ghana, Tanzania, Rwanda, Ethiopia

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LAGOS (Capital Markets in Africa) – Ghana’s inflation rate rose to the highest level in four months in November as the cedi continued to weaken. Annual inflation quickened to 8.2% in from 7.7% in October, Government Statistician Samuel Kobina Annim told reporters in the capital, Accra, on Wednesday. The median estimate of three economists in a Bloomberg survey was 7.6%. Prices rose 0.7% in the month. Key Insights This is the first time since the…

Egypt Inflation Edges Up But Leaves Breathing Room for Rates

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CAIRO (Capital Markets in Africa) – Egypt’s inflation rate accelerated for the first time in five months, rising 3.6% in November as the effect of last year’s surge in prices faded but offering the central bank little reason to reverse a monetary easing cycle. The annual rate for urban inflation rose from 3.1% the month before, the state-run statistics bureau said Tuesday. Consumer prices fell 0.3% month-on-month from a 1% rise in October — its…

Ken Griffin Has Another Money Machine to Rival His Hedge Fund

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NEW YORK (Capital Markets in Africa) – Citadel Securities is sometimes dismissively referred to as “Citadel’s trading arm” — seen as a forgotten backwater of Ken Griffin’s hedge fund empire, where quants toil on complex algorithms to arbitrage tiny differences in stock prices or calculate bid-ask spreads for Treasuries. It’s much more than that. The market-making firm, which is actually separate from Griffin’s hedge fund, generated $3.5 billion of revenue last year — more than the…

Pelosi Balances Impeachment and USMCA With Eye on 2020 Elections

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NEW YORK (Capital Markets in Africa) – House Speaker Nancy Pelosi pulled off a delicate political maneuver by announcing in quick succession articles of impeachment against President Donald Trump as well as the delivery of a trade deal that’s one of his highest priorities. The seemingly conflicting turn of events in the space of a single hour on Tuesday illustrates the political landscape Pelosi faces heading into the 2020 election year that will decide control…

What Corbyn Stands For and Why He Spooks Markets: QuickTake

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LONDON (Capital Markets in Africa) – Jeremy Corbyn is a controversial leader even in his own party. The man seeking to dethrone Boris Johnson as U.K. prime minister has been criticized for failing to tackle racism in the Labour Party and for moving it too far to the left. He has also won support for radical plans to combat climate change and a raft of populist policies, some a throwback to 1970s-style socialism, including re-nationalizing…

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