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In the loop 19 October 2021

In the loop

Shireen Darmalingam

What you should know this morning:

  • The rand is stronger this morning, at R14.62/$, after closing weaker yesterday (R14.68/$*).
  • EM currencies were mixed yesterday; the CLP (+0.7%), RON (+0.2%) and BGN (+0.2%) were amongst the biggest gainers, while the BRL (-0.9%), TRY (-0.6%) and ZAR (-0.6%) were amongst the biggest losers.
  • Asian equity markets the Nikkei, Hang Seng and Shanghai Composite are up.
  • Covid-19 global update: cases have surpassed 241.89 million, while the death toll has surpassed 4.92 million; recoveries are at 219.24 million.
  • The US has 45.90 million cases, accounting for 18% of global cases; the US death toll is 746,462. 
  • India has 34.09 million cases and 452,485 deaths; Brazil has 21.65 million cases and 603,521 deaths.
  • Germany is expected to end its state of emergency on 25 November. 
  • New Zealand continues to report record daily increases in infections.
  • The US FDA is expected to approve mixed booster jabs and is expected to allow all brands to be combined.
  • India is approaching 1 billion vaccines administered. 
  • Canada is reviewing the use of the Pfizer vaccine for children aged 5 and up
  • Scientists are tracking a descendant of the Delta variant responsible for a growing proportion of infections in the UK, and could be more infectious than the Delta variant.
  • Globally, over 6.71 billion doses have been administered across 184 countries at a rate of 27 million doses a day.
  • UK Prime Minister Boris Johnson has vowed to find a solution to the Brexit impasse with the EU over provisions related to the Northern Ireland protocol.
  • Discussion with the bloc re-opened last week; Johnson’s remarks suggest that a compromise is near
  • US housing starts and building permits for September due out today are expected to have slipped.
  • The data is expected to reinforce that supply constraints and labour shortages are holding back construction
  • New home construction should regain momentum eventually; for now, builders are trying to manage supply-chain bottlenecks. 
  • Consumers are also concerned about near-term growth prospects and rising prices.
  • SA has the 17th highest caseload, at 2.916 million; 210 new cases were reported yesterday.
  • Active cases are at 22,618; KwaZulu-Natal leads the way, with 8,407 active cases, followed by the Western Cape with 4,760.
  • Covid-19 deaths rose by 7 yesterday, to 88,619; 2.80 million people (or 96.2%) have recovered from the virus.
  • 18.189 million tests have been conducted since 5 March 2020; 15,026 tests were conducted yesterday.
  • The SA positivity rate is 1.4%.
  • 20.381 million vaccines have been administered to date; 167,926 vaccines were administered yesterday.
  • Brent crude oil is up this morning, and up by 63.2% year-to-date.
  • The gold price is up this morning, and down by 6.5% year-to-date.
  • Brent crude oil is currently at $84.51/bbl; ($84.33/bbl*).
  • Gold is at $1774/oz ($1766/oz*).
  • SA CDS 214bps*, higher than Brazil 205bps* and lower than Turkey 454bps*.
  • Yields: US 10yr at 1.58%*, German bund at -0.148%* and SA 10-year generic at 9.90%*, SA’s R186 at 7.98%*.

* Denotes yesterday’s close.

Key events and data: 

  • 14h30: US building permits, housing starts (September)

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