{"id":3824,"date":"2017-02-28T12:36:48","date_gmt":"2017-02-28T12:36:48","guid":{"rendered":"http:\/\/dynasty.co.za\/?p=3824"},"modified":"2021-06-22T08:44:56","modified_gmt":"2021-06-22T08:44:56","slug":"28feb2017","status":"publish","type":"post","link":"https:\/\/www.dynasty.co.za\/staging\/28feb2017\/","title":{"rendered":"News Flash &#8211; 28 February 2017"},"content":{"rendered":"<h2><strong>Global News:<\/strong><\/h2>\n<ul>\n<li>In 2017, the MSCI World Index has gained 5.4% in dollar terms while the MSCI Emerging Market Index has returned 9.5%, also in dollar terms. The JSE ALSI has returned 7.8% in dollar terms, so balancing in-between the two numbers.<\/li>\n<li>In the UK, the Office for National Statistics released their 2016 GDP fourth quarter estimate of 2.8% quarter-on-quarter annualised. This is the better than the average growth over the preceding 8 quarters. Total GDP growth for the 2016 calendar year was 2%.<\/li>\n<\/ul>\n<ul>\n<li>In Germany, the Markit Manufacturing PMI was 57, which was better than the high expectation of 56. Services PMI was 54.4, which was also higher than expectations.<\/li>\n<li>In France, Composite PMI also did well, coming in at 56.2.<\/li>\n<li>The US 10-year yield is down from a high of 2.59% on 15th December to 2.33% today, while the German 10-year has plummeted from a high of 0.49% on 26th January to 0.18% today, so bond prices have been rising quite nicely of late, especially the German ones.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>Local News:<\/strong><\/h2>\n<ul>\n<li>The crucial news from the week was based on the Budget Review announced by the National Treasury, 22 February 2017.<\/li>\n<\/ul>\n<ol>\n<li>Due to an unexpected revenue shortfall in the 2016\/2017 financial year (tax revenue massively underperformed budget by an\u00a0estimated R30 billion) and a reduced budget deficit, the Treasury announced policy changes to raise an additional R28 billion\u00a0for\u00a0the\u00a0upcoming year.<\/li>\n<li>The bulk of these funds will come from personal income tax, higher dividend tax, and higher excise levies on fuel.<\/li>\n<li>Debt servicing costs continue to rise at a very rapid pace &#8211; While South Africa\u2019s public sector debt parameters remain fairly\u00a0acceptable by world standards at around 50% of GDP, the total debt, as well as the cost of servicing that debt, is clearly on the rise.<\/li>\n<\/ol>\n<ul>\n<li>In 2017: The All Bond Index and JSE Listed Property Index are at the same level, gaining 2.7%; the ALSI has returned 1.98%; and cash 1.08%, all in rand terms.<\/li>\n<li>The JSE Mining Index has lost 13% since its high on, 24 January 2017.<\/li>\n<li>Rand strength is affecting the performance of the JSE ALSI. The JSE ASLI has lost 3.1% since its recent high on, 26 January 2017. The influence of the rand on the JSE ALSI is confirmed by the fact that the JSE has only gained 1.98% in 2017 in rand terms, whereas in US dollars the JSE ALSI has returned 7.8%.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><em>Source: Dynasty, Stanlib, Efficient Select, Prescient, Moneyweb &amp; Bloomberg Markets etc.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global News: In 2017, the MSCI World Index has gained 5.4% in dollar terms while the MSCI Emerging Market Index has returned 9.5%, also in dollar terms. The JSE ALSI has returned 7.8% in dollar terms, so balancing in-between the two numbers. In the UK, the Office for National Statistics released their 2016 GDP fourth&hellip;<\/p>\n","protected":false},"author":2,"featured_media":3825,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-3824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsflash","category-3","description-off"],"_links":{"self":[{"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/posts\/3824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/comments?post=3824"}],"version-history":[{"count":0,"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/posts\/3824\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/media\/3825"}],"wp:attachment":[{"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/media?parent=3824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/categories?post=3824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/tags?post=3824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}