If the history of seasonal trading is anything to go by.
By Colleen Goko, Bloomberg
17 Dec 2020 15:36
Image: Waldo Swiegers / Bloomberg
South Africaâs government bonds may end a miserable year on a more positive note, if the history of seasonal trading is anything to go by.
Three of the most liquid debt tenors have handed positive returns to investors between December and January in recent years, according to Rand Merchant Bank.
Local-currency bonds maturing in December 2026 have seen yields drop in 14 of the last 21 years, since they were first sold, Varushka Singh, a fixed-income and currency strategist at Rand Merchant Bank said in a note to clients. The rate on securities maturing in January 2030 narrowed in five of the past six periods, while those due in February 2048 fell four out of six times, the Johannesburg-based analyst said.
Laggard South African Bonds May Get Seasonal Boost at Year-End
Bloomberg 12/17/2020
(Bloomberg)
South Africa’s government bonds may end a miserable year on a more positive note, if the history of seasonal trading is anything to go by.
Three of the most liquid debt tenors have handed positive returns to investors between December and January in recent years, according to Rand Merchant Bank.
Local-currency bonds maturing in December 2026 have seen yields drop in 14 of the last 21 years, since they were first sold, Varushka Singh, a fixed-income and currency strategist at Rand Merchant Bank said in a note to clients. The rate on securities maturing in January 2030 narrowed in five of the past six periods, while those due in February 2048 fell four out of six times, the Johannesburg-based analyst said.
No more new SIM cards in Nigeria
We didn’t see this coming. The Nigerian Communications Commission (NCC) has stopped Mobile Network Operators (MNOs) and Internet Services (ISPs) from selling or activating SIMs.
Why this move?
The NCC intends to verify if all MNOS have followed the required standards for SIM registration.
Earlier this year, the NCC had asked all subscribers to get their National Identity Numbers (NIN) and submit to the network operators, a deadline it later shifted to 1st December 2020
Deja Vu?
Yes, this looks like it s happened before. As Victor explained in an edition of the next wave.