UPDATE ON MARKETS: FTSE/JSE All Share improved by another 1.6% during May, bringing the year-to-date returns to 16.02%. SA Property stocks took a breather after a MASSIVE recovery during April by declining by 2.9% in May. The SA All Bond Index increased by 3.7% for the period.
2/9
The FTSE/ JSE All Share (+7.30%) had a much stronger month than the MSCI All Country World Index (+1.56%) again in USD-terms. The 12-month performance for the JSE in USD-terms still leads the MSCI ACWI’s performance by nearly 35%.
3/9
South African Mid-Caps dominated during May, growing by 6.16%. Large Caps and Small-Caps grew by 1.14% and 3.33% respectively.
4/9
Foreigners were net sellers of South African Equities in May, however, they were net buyers of local bonds.
5/9
From a sectoral point of view, May saw Financials dominating other sectors. Resources took a bit of a breather. Naspers/Prosus was the biggest loser again in terms of attribution (compared to Capped Swix). We also saw Industrials lagging behind market performance yet again.
6/9
Rand’s value strengthened by a whopping 5.7% against the USD again, by 3.8% against the Euro & 2.6% against the British Pound. Rand had another great performance month against the other BRICS currency movements and kept its lead in terms of performance over a 5-year period.
7/9
The US M2 Money Supply YoY growth rate was north of 20% again, putting some pressure on the US Dollar and helping Gold.
8/9
The US Dollar Index weakened in May and remained below both its 200-day and 50-day Moving Averages.
$DXY
9/9 & Final
Most commodities had a mixed month during May. Gold increased by 7.8%, while Brent increased by 3.5%. Palladium dropped from its all-time highs in April, and decreased by 5.5% during May.
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