LOCKDOWN LEVEL 2
TOTAL DAYS 551 – 07 HOURS 25 MINUTES
Vaccine rollout day 201
New cases 1367
New Deaths 51
Recovery Rate 95,4%
Vaccines Administered 17,176,603
By the close of trade on Tuesday 28th September 2021, the South African rand weakened against the US dollar. Official news is that South Africa has exited the 3rd wave and all attention turns to the NCCC and Cyril Ramaphosa holding his “family meeting” this coming Sunday 3rd October 2021.
- Treasury Secretary Janet Yellen on Tuesday told House Speaker Nancy Pelosi that Congress has just under three weeks to address the looming debt ceiling and avoid near-certain economic calamity. “We now estimate that Treasury is likely to exhaust its extraordinary measures if Congress has not acted to raise or suspend the debt limit by October 18,” she wrote in a letter. “At that point, we expect Treasury would be left with very limited resources that would be depleted quickly.” Senate Republicans blocked a bill that would have suspended the United States’ debt limit. The move puts the country at risk of default, thereby potentially tanking the economy and delaying payments to millions. This at the same time President Biden and Democrats are advancing a make-or-break effort to pass a multitrillion-dollar, 10-year economic and climate package. Debt limit negotiations continue but Biden does have an ace in the hole if Congress doesn’t suspend the debt limit.
- In the US, consumer confidence dropped to a seven-month low in September, as a persistent rise in COVID-19 cases increased concerns about a slowdown in 3Q21 growth.
- Home prices rose to a new record high, however, economists stated that the pace of price growth isn’t inherently a cause for concern. The S&P CoreLogic Case-Shiller Home Price Index showed that home prices advanced in July, for a fourth consecutive month.
- Factory output shrunk slightly in September, indicating that business conditions weakened.
- The top 10 richest people on the planet have a combined net worth of $1.4 trillion. For some context, that’s roughly the same size as Australia’s GDP.. Who’s in the $100 Billion Club? Elon Musk is currently the richest of them all, with a total net worth of $198 billion. That’s $60 billion more than the entire group’s average of $138 billion.
- The Federal Reserve (Fed) Chairman, Jerome Powell stated that the supply bottlenecks that caused a spike in inflation have deteriorated.
- The yield on benchmark government bonds rose yesterday. The yield on 2026 bond rose to 7.65%. Further, the yield on 2023 bond advanced to 5.18%, while that for the longer-dated 2030 issue rose to 9.29%.
In early trade on Wednesday 29th September 2021, the US dollar is trading marginally higher against the South African rand at R15.1122, while the euro is trading marginally higher at R17.6568. The British pound has gained against the South African rand to trade at R20.4656.
By the close of trade on Tuesday 28th September 2021, the euro advanced against most of the major currencies.
- Confidence in the UK recovery remains fragile, especially with further upward pressure on energy prices. Supply-side issues will also inevitably have a negative impact. There are, however, global issues which will limit the relative impact on the Pound and the UK currency has also been supported by further speculation that the Bank of England could move to raise interest rates in the short term. The dollar has also posted net gains on higher yields.
- In Germany, consumer confidence improved unexpectedly heading into October to reach its highest level in a year and a half, indicating that households continue to support the rebound in the domestic economy.
- In the eurozone, the European Central Bank (ECB) President, Christine Lagarde said that the higher taxes on carbon will affect people money and make it harder for the ECB to reach its inflation target if governments don’t use the extra revenue well.
In early trade on Wednesday 29th September 2021, the euro has marginally advanced against the US dollar to trade at $1.1672, while it has weakened against the British pound to trade at GBP0.8638. __________________________________________________________
SPECTRUM LAUNCH [Fact Sheet Attached]
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 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, 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:
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 pre launch code use SFC131View Our Spectrum Portfolio
Link included below:
If you have any questions, please feel free to make contact with us at StewardsSpectrum@certicap.global.
The Stewards Team
Disclosure: Certain personal information may be required in order render proper financial advice and for marketing purposes. Your consent in collecting such, or otherwise processing such information , is necessary and should there be any personal information you are not comfortable with me collecting and/or otherwise processing, kindly notify me in writing. You are aware that such Personal information must be dealt with in accordance with the Personal Protection of information Act (“POPI”). You consent to such personal information being used by any necessary third party such as the Bank.