The Macro Chart Book: June 2018
Chart 1 – Bond valuation trumps global risk aversion
South Africa’s currency and government bond markets are deep and liquid, thus attracting foreign investors from around the world.
Foreigners own around 45% of South Africa’s sovereign debt, therefore its not surprising when global risk aversion picks up, foreigners use SA as a proxy for reducing emerging market exposure.
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Graduate Development Programme
The Graduate Development Programme is aimed at developing new talent by exposing new graduates to the investment management industry.