LOCKDOWN LEVEL 1 Ver2 [DAY 21]  

TOTAL DAYS 253 – 07 HOURS 40 MINUTES

By the close of trade on Tuesday, the South African rand strengthened against the US dollar.

  • The U.S. stock market had one of its best months ever in November, with the S&P 500 Index surging almost 11%. Many are again questioning whether equities have become disconnected to reality as the Covid-19 pandemic rages anew. Lost in the debate is the potential for an explosive economy in 2021 given the magnitude of excess savings that households have accumulated, a sum that probably totals about $1.4 trillion.
  • Attorney General William Barr said Tuesday the Justice Department has not uncovered evidence of widespread voter fraud that would change the outcome of the 2020 presidential election. His comments come despite President Donald Trump’s repeated claims that the election was stolen, and his refusal to concede his loss to President-Elect Joe Biden. In an interview with The Associated Press, Barr said U.S. attorneys and FBI agents have been working to follow up specific complaints and information they’ve received, but they’ve uncovered no evidence that would change the outcome of the election.
  • In the US, ISM manufacturing activity fell in November, with new orders retreating from their highest level in nearly 17 years, as a resurgence in COVID-19 cases across the nation kept workers at home and factories temporarily shut down to sanitize facilities.
  • The emergency lending programs the Federal Reserve set up during the pandemic served as helpful backstops and could be revived quickly if needed after they expire at year end, a senior New York Federal Reserve official said on Tuesday. “From an operational perspective, we could reinstate the expiring facilities quickly if needed,” said Lorie Logan, manager of the System Open Market Account, during a virtual discussion organized by the Money Marketeers of New York University.
  • Construction spending rebounded more-than-expected on a monthly basis in October.
  • The Federal Reserve (Fed) Chairman, Jerome Powell, emphasized the importance of the lending programs deployed by the central bank during the coronavirus pandemic.
  • In South Africa, total vehicle sales rose in November, after easing of lockdown.
  • The yield on benchmark government bonds mostly dropped yesterday. The yield on 2026 bond fell to 7.05%. Further, the yield on 2023 bond declined to 4.40%, while that for the longer-dated 2030 issue rose to 8.99%.

In early trade on Wednesday, the US dollar is trading higher against the South African rand at R15.2666, while the euro is trading higher at R18.452.  The British pound has gained against the South African rand to trade at R20.4929.

By the close of trade on Tuesday, the euro advanced against most of the major currencies.

  • UK-EU trade deal talks have, at long last, entered the mythical tunnel. Michel Barnier has stopped internal debriefs to the wider EU, his last was on Friday. Hopes (on both sides) of a deal by the end of this week – but could still yet all fall apart.  Neither side formally confirming tunnel status yet. No10 never recognised the term, but also not denying it. Source state: “Outstanding issues remain. Negotiations continue”. But as a senior EU source says, “if it looks like a tunnel, and sounds like a tunnel, it’s a tunnel”.
  • In the eurozone, inflation remained in negative territory on an annual basis for the fourth straight month in November, reinforcing the European Central Bank’s (ECB) concerns that the dip in prices may be more persistent than feared, as deflationary forces intensify amid a deep recession.
  • German manufacturing PMI fell in November, due to partial lockdown to contain a second wave of coronavirus infections

In early trade on Wednesday, the euro advanced against the US dollar to trade at $1.2066, while it has gained against the British pound to trade at GBP0.9022.

The below link I have included, is an extract from Jerm Warfare of which I follow and is well worth watching.

Quote from Jerm, “Last week on Jerm Warfare, I was joined by professor Sucharit Bhakdi, one of the most prolific microbiologists in Germany, and one of the world’s leading infectious disease specialists.

YouTube removed the video within 24 hours because, according to YouTube’s email, they don’t permit videos challenging the narrative of the World Health Organisation (WHO)”.  The link below takes you to the interview.  It is well worth watching.  Click Here [Control+Click].

you can still watch it

Sucharit Bhakdi

COVID NEWS:

https://mediahack.co.za/datastories/coronavirus/dashboard/

Provincial

https://mediahack.co.za/datastories/coronavirus/provinces/