By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Bond yields, stock prices supported ahead of central bank meetings
• Value-oriented shares in US suddenly in favour
• Investors unwind their positions ahead of central bank meets
• Bond yields rise, US 10-yr yield up 10bps on Tue

Oil Markets

• Oil prices after data shows big drop in US inventories
• Brent up 0.7% at $62.81 a barrel (0053GMT)
• WTI up 0.8% at $57.87 a barrel

Precious metals

• Gold prices inch up amid cautious; investors eye ECB meet
• Spot gold up 0.4% at $1,491.60/oz. (0120GMT)
• US gold futures flat at $1,499.3/oz.

Grains

• Corn prices hit 8-day high on lower US crop condition
• Wheat futures down 0.4% at $4.80-1/4 per bushel (0055GMT)
• Corn futures up 0.3% at $3.62-1/2 per bushel
• Soy futures unchanged at $8.72 per bushel
• Rice futures unchanged at $12.02 per hundredweight

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

• Nigeria presidential election petitions tribunal to rule on Abubakar vs Buhari
• Gambia’s Barrow in Qatar
• 5^th Investing in Africa forum in Brazzaville; Rwanda’s Kagame et al. attending
• 1^st batch of Nigerian returnees from South Africa expected
• South Africa SACCI business confidence Aug-19 [prev. 92.0]
• South Africa state capture inquiry continues

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

• Mugabe’s body leaves Singapore for burial in Zimbabwe
• Cameroon leader says govt will organise talks to solve separatist crisis
• Chad extends state of emergency in 3 provinces by 4 mths
• South Africa’s Naspers takes Tencent stake out of Africa with Prosus listing
• Ivory Coast, Ghana looking to regulate cocoa industry’s sustainability schemes
• Hundreds of Nigerians to take free evacuation from South Africa
• South Africa’s rand firms on improved risk appetite, stocks down
• Kenya Airways cancels flights due to pilot shortage
• Africa Oil – Angolan, Congolese crude still awaits buyers
• Banned Nigerian Shi’ite group says police killed 12 in religious marches
• All remains from Ethiopian Airlines crash site now identified – police
• Libya’s displaced struggle for shelter as fighting drags on
• Sudan’s prime minister to join peace talks in Juba with rebels
• African refugees held in Libya to be evacuated to Rwanda – UN
• Algeria PM to resign, paving way for vote after protracted protests
• South Africa’s investment grade rating depends on pace of reform – Moody’s
• 4 cholera cases confirmed in Sudan, 3 die of acute watery diarrhoea
• Ivory Coast town sinking underwater as coastal erosion advances
• “Will we eat democracy?” – Tunisians frustrated as elections approach
• Egypt’s August inflation rate falls to 7.5%, lowest in years
• South Africa’s manufacturing down 1.1% y/y in July
• MTN Group says Zambia, Cote d’Ivoire CEOs stepping down
• Sudan’s major floods present first challenge for its new leader
• Lack of clarity on South Africa’s Eskom illustrates policy uncertainty – Moody’s
• South Africa’s Mossel Bay GTL plant could be out of gas by 2020
• South Africa’s investment grade rating depends on pace of reforms – Moody’s
• South African platinum miners’ wage talks go to internal abitrators
• Kenya shilling strengthens against the dollar
• Moody’s cuts South Africa’s 2019 GDP growth forecast to 0.7%
• South Africa’s AMCU declares a dispute in wage talks with platinum firms
• Action! Nigeria’s film industruy draws global entertainment brands

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