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African market outlook for 2017: Opportunities and challenges
LAGOS (Capital Markets in Africa) – The global risk backdrop has been relatively supportive for emerging market (EM) FX and fixed income in early January 2017, as investors downplayed previous concerns about fiscal stimulus in the US under a Trump administration. This has underpinned the South African rand and local bonds and reinforced a receiving bias in swaps. However, there is a risk that upward pressure on UST yields and a bull USD cycle may…
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