Dear Clients,
Please find attached the Market overview for June ’24
Summary :
The document provides an overview of June including the Market Performance, key economic indicators like Inflation and Interest Rates as well as the Economic Growth and the Labor Market. Summary – Economic and Market Overview:
The Federal Reserve in the US kept interest rates unchanged at 5.25-5.50%. • Inflation in South Africa remained stable at 5.2%, with core inflation at 4.6%.
The Bank of England kept its key rate at 5.25%, but some members voted for a rate cut.
Upcoming elections in the UK and France may lead to changes in leadership.
South Africa formed a new coalition government, the Government of National Unity.
The Shanghai Cooperation Organization, led by China and Russia, is expected to expand with the addition of Belarus. Market Performance: 1. Global markets performed well in June, with developed markets (MSCI World +2.1%) and emerging markets (MSCI EM +4.0%) both posting gains. 2. The South African equity market (JSE All Share Index) rose 4.1% (7% in US Dollar terms), and local bonds gained 5.2%. 3. The rand strengthened against major currencies, and gold prices increased by 5%. What are the key economic indicators? 1. Inflation: 2. Interest Rates: 3. Economic Growth: 4. Labour Market:
Trust that you will find this summary useful and all the information about the financial world we live in beneficial.
Kind regards