Market Commentary: April 2020
Here are this month’s highlights: April was a month of record lows all-round with the global economy forecasted to see its steepest decline since the Great Depression of the 1930s. The South African Reserve Bank reduced the repo rate by a further 100 basis points; South Africa exited the FTSE World Government Bond Index (WGBI) on 30 April; local equity indices rebounded strongly following global peers higher; SA listed property recovered in April in line with equities and bonds; new economy companies such as Amazon, Netflix and Microsoft were net beneficiaries as the world further embraces e-commerce, media streaming and online gaming; and currency performance was mixed.