Market Talk Update – February 9, 2018

    JN Fund Managers
    JN Fund Managers
    Kimberly Martin
     

    Indicator

     

    Period

    Data  

    Year/Year

     

    YTD Chg

     

    Mth/Mth

    Current

    Similar Period

    Last Year

    Inflation Rate Dec-17 0.60% 0.30% *5.2%
    Three Month T-Bill Avg Yield Jan-18 3.99% 5.62% -163bps -170bps -19bps
    Six Month T-Bill Avg Yield Jan-18 4.16% 6.27% -211bps -240bps -47bps
    Interest Rate on BOJ

    Overnight Rate (policy rate)

    Jan-18 3.00% **3.25%
    Commercial Bank Loans

    (J$M)

    Sep-17 $620,449.26 $488,016.32 27.14% 25.24% 1.11%
    Current Account Deficit

    (US$M)

    July – Sept

    2017

    -$305.56 -$186.30 484.62%
    NIR (US$M) Dec-17 $3,208.29 $2,719.37 17.98% 17.98% 2.95%
    Remittance (Inflows US$M) Aug-17 $191.60 $194.10 -1.29% -13.81% -1.74%
    FX Rate J$ : US$1 2-Feb-18 $125.75 $128.44 -2.09% 0.60% 0.80%
    Junior Market Index 2-Feb-18 2,976.06 2,891.52 2.92% 8.93% 8.84%
    Junior Market Capitalisation

    (J$B)

    2-Feb-18 $125.06 $115.29 8.47% 8.94% 8.85%
    JSE Main Market Index 2-Feb-18 287,424.99 219,012.48 31.24% -0.33% -0.53%
    JSE Volume Traded YTD (B

    units)

    31-Dec-17 0.14 0.24 -40.20%
    JSE Main Market

    Capitalisation (J$B)

    2-Feb-18 $1,046.50 $797.19 31.27% -0.21% -0.54%

    Sources: BOJ, STATIN, JSE

    Commentary

    The United States (US) trade deficit in December 2017 widened to the highest levels since October 2008. The US trade deficit increased by 5.3%
    to $53.1 billion in December 2017, above market expectations of $52.0 billion. This increase was attributable to imports rising by 2.5% to a
    record of $256 billion in December 2017, boosted by record US purchases of consumer goods, capital goods and food producers. Meanwhile,
    exports rose by 1.8% to $203.4 billion, led by record shipments of capital goods and gains in industrial supplies and materials. The widening of
    the deficit has led to US Gross Domestic Product (GDP) falling below its anticipated expansion rate of 3% to 2.6%.

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