For those who believe that the lockdown should continue, please read through the following article carefully. Then decide whether you indeed believe that destructing the economy serves our objectives as a country businesslive.co.za/amp/fm/feature…

Some responses to this thread. 1. The economic losses are implicitly IN ADDITION to those expected from a global recession. We shd make that explicit in the paper, thanks. We estimate lockdown to be around 3-5x worse for GDP than non-lockdown (depending on duration).

Thanks John. The April PMI number surprised us. Russell Lamberti did the necessary digging. Mystery solved. US PMI suffers from the same anomaly - beware!

Chart of the week: Lockdown stringency vs GDP growth - Q1 2020.

Register below for today's webinar (at 11:00 SA time) where I will talk with Andile Group CEO Andries Brink on 'The Race between Innovation and Plunder.' Register: andile.zoom.us/webinar/regist…

Advocates for lockdown failed to consider that the economy is our most important life-support system – shutting it down does grave harm to life, health and human well-being. ETM supports Business for Ending Lockdown (B4EL). endlockdown.co.za

This is getting widely shared with nearly 15,000 views across various platforms in 48 hours. Watch 👇 The Definitive SA Lockdown Presentation youtube.com/watch?v=PKF6lq…

Out Today: The South Africa Q3 TransUnion Consumer Credit Index. transunion.co.za/resources/tran… Index remained weak in Q3 on the back of weak income growth estimates and elevated defaults. Payment holidays and low rates limiting credit distress for now.

The following chart shows the rise in shipping costs. Corporates struggle with both the logistical bottlenecks and the rising shipping rates. How does this impact inflation and longer term price pressures Talk to us, etmanalytics.com

SA Retail sales hit hard in July, reflecting looting and pessimistic consumer confidence see etmanalytics.com for full breakdown

The fears surrounding Chinese property giant Evergrande have hit emerging markets and risk assets hard. ETM remains focused on the fall out and will unpack the impact to the markets it covers as new insights and information becomes available. etmanalytics.com

Global bonds facing the worst year in a decade, African bonds remain resilient. For more insight on this topic see ETM's latest strategy note at etmanalytics.com. #bonds #fixedincome #africa #marketstrategy

Big shift in market implied rates outlook. Risk is for a 25 bpt hike this Thursday at the South African Reserve Bank MPC #bank #MPC #interestrates