By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Stocks wobble, bond yields fall on earnings woes, trade worries
• All Wall St indexes down: Dow 0.4%, S&P500 0.7%, Nasdaq 0.5%
• CSX tumbles on weak results, Netflix sinks in after-hour trading
• Treasury yields slump; 10yr, 30yr shed over 7 bps each overnight
• Precious metals in demand: gold gains over 1%, silver up 2.5%

Oil Markets

• Crude futures fall after strong build in US oil products stocks
• Brent down 0.2% at $63.51 a barrel (0044GMT)
• WTI down 0.5% at $56.52

Grains

• Soybeans fall to 9-day low as cooler weather expected
• Most active CBOT soybean futures down 0.2% at $8.99 a bushel (0054GMT)
• Most active corn futures down 0.5% at $4.39-1/2 a bushel
• Most active wheat futures down 0.3% at $5.04 a bushel

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

• South Africa central bank 3-day MPC meeting; decision day [fcst. 6.5%, prev. 6.75%]
• Ghana central bank 3-day MPC meeting continues; decision on 22 Jul [fcst. 15.0%, prev. 16.0%]
• 2^nd Lake Chad Basin Governors Forum 2019 in Niamey, Niger; 16-18 Jul
• Kenya trade week 2019 in Nairobi; 15-21 Jul
• Day 2 of Source 21 COMESA international trade fair & high level business summit in Nairobi, Kenya (17-21 Jul); Kenyatta, Mauritius’ Vyapoory, Zambia’s Lungu, & Uganda’s Museveni opened yesterday

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

• WHO sounds ebola alarm as risks intensify
• Ethiopian city braces for protests as activists promise to declare new region
• Africa Oil – Large Nigerian overhang looms ahead of programmes
• South Africa’s rand softer ahead of rate decision, stocks slide
• Acacia seeks stay of international arbitration against Tanzania
• Power-short Zimbabwe removes barriers to solar energy expansion
• South African corruption inquiry adjourns after Zuma’s lawyers say questioning unfair
• Egypt says economy on right track after 5.6% growth in 2018/19
• Eni officials tried to tamper with witness in Nigeria case – prosecutor
• South Africa’s Zuma denies interfering with Transnet CEO appointment
• UN peacekeeper, 6 civilians killed in Sudan/South Sudan border area
• South Africa’s retail sales jump in May ahead of expected rate cuts
• 9 companies weighing bids for Vedanta’s Zambia assets – minister
• IMF to vote on final loan tranche to Egypt on July 24 – PM
• Zambia expects bids for Konkola Copper Mines within weeks – minister
• South Africa subsidiary of carmaker Ford to add 1,200 jobs
• South Africa’s retail sales up 2.2% y/y in May
• Egypt’s GDP growth at 5.6%, deficit at 8.2% for 2018/19 fiscal year
• Kenya orders deportation of 17 foreign directors of betting firms
• WHO reports new ebola incident in Uganda
• Zambia finance minister to outline position on sales tax soon
• Sudan’s military council, opposition coalition sign political accord

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