By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Rising US bond yields hit global markets, Asian stocks wobble
• Treasury yields rise to 7-yr highs, yield curve steepen
• 30-yr Treasuries signals higher yields – Doubleline’s Gundlach
• US junk bond spread over Treasuries narrowest since ‘07
• Oil continues retreat from 4-yr highs
• Investors await US jobs data for Sept due later on Friday

Oil Markets

• Oil prices rise ahead of US Iran sanctions, but outlook for 2019 less certain
• US sanctions set to take force on Nov. 4
• Financial markets have built up large long positions
• Emerging market woes dent demand outlook
• Goldman expects slight surplus in 2019
• Brent crude futures up 0.4 pct at $84.90 per barrel (0431GMT)
• US WTI crude futures up 0.6 pct at $74.76 a barrel

Precious metals

• Gold little changed ahead of US jobs report
• Spot gold flat at $1,199.20 an ounce (0119GMT)
• US gold futures up 0.1 pct at $1,202.90 an ounce

Grains

• Corn hits 2-mth high, set for biggest weekly gain since July
• Corn up 3.5 pct for the week
• Rains forecast, expected to slow harvest
• Soybeans firm, wheat up more than 0.5 pct
• Most active CBOT wheat futures up 0.6 pct at $5.21 per bushel (0432GMT)
• Most active corn futures up 0.3 pct at $3.68-1/2 per bushel
• Most active soy futures up 0.3 pct at $8.61-1/2 per bushel
• Most active rice futures down 0.8 pct at $10.69 per hundredweight

Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]

• Nigeria’s key opposition PDP party to elect presidential candidate during the weekend
• Day 2 and final day of South Africa jobs summit; initiative well-received thus far

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

• Guinea’s bauxite boom upending rural communities – HRW
• Last of South Sudan rebels in Congo exile leave for home, third countries – UN
• Sudan to set daily exchange rate, cancel import restrictions – cbank gov
• Ethiopia govt failing to protect people from ethnic violence – rights commission
• French army carries out air strikes in Burkina Faso after Islamist attack
• Foreign investment in Egypt falls, austerity plan hurts demand
• South Africa’s Ramaphosa announces plan to reduce sky-high unemployment
• South Africa’s rand on the ropes, stocks weaker
• African Crude – Trader eye tenders, some spot Nigerian moves
• Zimbabwe vaccinates 1.4 mln to combat worst cholera outbreak in a decade
• Melania Trump spotlights USAID reading programme in Malawi
• NBG completes sale of South African Bank of Athens
• South Africa’s Ramaphosa says jobs plan will create 275,000 jobs a year
• Congo accuses EU of election interference for maintaining sanctions
• Africa FX – In week ahead, Ghana’s cedi to hold ground while Zambia’s kwacha could strengthen
• Emerging market jitters hit Egypt, Saudi Arabia’s Alawwal up on merger
• Sudan cancels import restrictions on 19 foods, other items – cbank gov
• Rugby – South Africa team to face New Zealand
• Sudan forms body of bankers and exchange bureaus to set daily exchange rate – cbank gov
• As Cameroon votes, thousands are silenced by violence
• Blast at Egypt fuel depot kills one, injures others – sources
• Togo forecasts 5.1 pct GDP growth in 2019
• Ugandan shilling stronger, draws support from c.bank rate decision
• Attack on Congolese Red Cross ebola ambulance wounds three volunteers
• Zimbabwe’s budget deficit soars after pre-election splurge
• Surge in US yields drives emerging markets into a tailspin
• Kenya’s earnings from tourism to climb 15 pct this year, minister says
• Drunk police officer shoots dead two colleagues in Addis Ababa – state media
• South Africa’s rand weakens after World Bank cuts growth forecast
• Mining firms say Zambia’s tax hike plan would ruin economy

N.B. Full stories of above headlines are available on Reuters