Market update: is South Africa losing sight of true north?

LOcom_AuthorsAM-Sita.png   Leslie Sita
Client Portfolio Manager

South Africa downgrade – intense political instability weighs on economic performance and policy.

South Africa’s slide into sub-investment grade territory by S&P reaffirms the need for continuous monitoring of the sovereign credit metrics. Rating pressures persist as Moody’s put the country on negative watch, signalling the risk of another downgrade.

We believe that recent events in South Africa highlight the importance of considering a country’s economic fundamentals in a fixed income portfolio.

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