LOCKDOWN LEVEL 2 

TOTAL DAYS 545 – 07 HOURS 30 MINUTES 

Vaccine rollout day 220
New cases  2197
New Deaths 160
Recovery Rate 95,1%
Vaccines Administered 16,358,076

By the close of trade on Tuesday 21st September 2021, the South African rand weakened against the US dollar.

  • The news headlines in SA were mostly about the Zuma case partially getting underway in Pietermaritzburg. In the financial Hub Johannesburg Finance Minister, Enoch Godongwana stated that the country’s real gross domestic product growth had declined since 2015, with productivity growth having been slowed down further, and unemployment reaching a record high.
  • In the US, single-family homebuilding fell for a second consecutive month in August, as homebuilders continued to struggle with materials and labor, constraints, dragging on economic growth in 3Q21. However, multifamily housing picked up the pace of new-home construction and permitting in August.
  • The Biden administration and Congress have much to resolve in the coming weeks. There are the massive legislative efforts to increase spending on infrastructure and fiscal support for a range of social programs and climate change. But even more pressing, Congress has a September 30 deadline to renew expiring government spending authority for the 2022 fiscal year that begins October 1. Failure to do so would result in a government shutdown. Then there is the Treasury debt limit, which was reinstated on August 1 of this year.  The House passed a bill Tuesday that would both prevent a government shutdown and suspend the debt limit in a step toward preventing possible economic calamity. The Democratic-held chamber approved it in a 220-212 party-line vote. However, Senate Republicans have threatened to spike the bill, which could leave Democrats scrambling to find another way to avoid a federal funding lapse or even a first-ever default on U.S. debt. Worries about a looming default and the economic damage it would cause contributed to a U.S. stock market drubbing on Monday.
  • A survey of 32 market participants shows they expect the Federal Reserve to announce a reduction in its $120 billion in monthly asset purchases in November and begin to taper in December. The Fed is expected to cut purchases each month by $15 billion. The first rate hike does not come until the end of next year. “The challenge for officials will be continuing to delink the timing of tapering from eventual rate liftoff amid splintering views within the FOMC
  • The yield on benchmark government bonds mostly rose yesterday. The yield on 2026 bond fell to 7.48%. Further, the yield on 2023 bond advanced to 5.03%, while that for the longer-dated 2030 issue rose to 9.05%.

In early trade on Wednesday 22nd September 2021, the US dollar is trading lower against the South African rand at R14.8136, while the euro is trading lower at R17.3548.  The British pound has declined against the South African rand to trade at R20.2062.

By the close of trade on Tuesday 21st September 2021, the euro advanced against most of the major currencies.

  • The OECD raised the eurozone’s growth forecast by one point to 5.3%, though the outlook varied within the single-currency bloc, with higher growth now expected in France, Italy and Spain, while Germany was not performing as well.
  • In Australia, the Leading Index has held up surprisingly well during this downturn but it seems likely that there is more weakness on the way. For example, while all components have contributed to the slowdown in growth since March, commodity prices and equities have been reasonably resilient. Developments in those markets in September are likely to drag the Index down further. Westpac expects the economy to contract by 4% in the September quarter; show a modest 1.6% recovery in the December quarter as the NSW and Victoria lockdowns are eased and building into a 7.4% surge in growth in 2022.
  • The Bank of Japan is widely seen standing pat on its key stimulus tools before a ruling party vote next week that will effectively determine the country’s next prime minister. All but one of 47 economists see the BOJ keeping its negative interest rate and asset-buying targets unchanged Wednesday.  The winner of the Liberal Democratic Party’s leadership election is also seen pushing for no immediate change to central bank policy.
  • Iran’s President Ebrahim Raisi said the U.S. is using sanctions as a new means of warfare in a debut before the United Nations General Assembly that was notably absent of any updates on the stalled talks to revive the 2015 nuclear deal. In a prerecorded speech screened at the annual gathering of world leaders in New York City, Raisi, who’s subject to direct U.S. sanctions, said his country could never trust Washington after former President Donald Trump abandoned the multiparty accord in 2018.

In early trade on Wednesday 22nd  September 2021, the euro marginally slipped against the US dollar to trade at $1.1732, while it has marginally weakened against the British pound to trade at GBP0.8596.

ARBITRAGE NEWS:

We are pleased to announce that Stewards will be launching its new international USD crypto centric investment portfolio to the market on 30th September 2021. We would like to extend a clients, friends and family prelaunch invitation to you to participate at special terms.

We have been running this strategy live with our own funds since January 2020, as you can see from the factsheet [attached], the portfolio has a great return. The Portfolio aims to deliver a return of 500% over the next 5 years. To find out more about the Stewards Spectrum investment offering, please click on the link below. You will find videos taking you through the investment. You will also see the link for our weekly zoom presentations, held on Thursdays at 14h00 SA time, where you may come meet the team and ask your specific questions. The link to the Weekly Zoom meeting is here:

https://bit.ly/3sHEBih

We have made the application process as easy as possible. Simply click the “Apply Now” button online. Complete the 5-minute application process and within 10 minutes you will receive your pre-populated documentation for review and signature via email. Once signed and returned to us, your account will be setup. Then you are good to go. For the sign-up you can use code SFC131

Link included below:  https://stewardsinvcap.com/stewards-spectrum/

If you have any questions, please feel free to make contact with us at StewardsSpectrum@certicap.global.

Sincerely,

The Stewards Team

 StewardsSpectrum@certicap.global