May saw equities return -3.5% while bonds lost 2.0%. Listed property also declined by 6.0%, with cash the only positive asset class, at 0.6% higher for the month. The best performing sector for May 2018 was resources, up 4.8%. Industrials and financials were both...
Surprise: A number of global and local surprises, especially on the political front. An even bigger surprise has been the markets’ (reflationary) reaction to the Trump-victory. And at the end of the year, SA is still “Investment Grade” according to the ratings...
