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Market Commentary: August 2020

Global Market Themes: Lack of agreement over new round of US fiscal stimulus US equities reach new all-time-highs, US dollar declines US Federal Reserve Bank adjusts inflation targeting framework Additional stimuli, economic support from France, Germany SA Market Themes: South African businesses warn of more retrenchments on the way A bumpy and likely long road to recovery Sasol’s woes continue President Cyril Ramaphosa sends a strong message to corrupt officials

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