macroafricaintel Daily Brief | 16 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets

  • Asia shares jump, yields rise as Fed readies corp bond buying
  • Fed announces start of corporate bond buying programme
  • Asia equities rally as mood improves
  • Treasury yields edge higher

Oil Markets

  • Oil prices ease as coronavirus infections rise
  • Brent down 0.4% at $39.58 a barrel (0027GMT)
  • WTI down 0.7% at $36.88

Precious metals

  • Gold gains after Fed ramps up support measures
  • Spot gold up 0.1% at $1,726.04/oz. (0504GMT)
  • US gold futures up 0.4% at $1,733.90/oz.

Grains

  • Chicago corn jumps over 1% as warm weather hits US crop; wheat gains
  • Corn futures up 1.1% at $3.32-3/4 a bushel (0339GMT)
  • Wheat up 0.5% at $5.07 a bushel
  • Soybeans up 0.4% at $8.72 a bushel

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

  • Nigeria Senate investigative public hearing on the power sector
  • South Africa opposition EFF virtual youth rally; Malema to speak
  • Africa innovation & investment forum 2020; 15-19 Jun
  • Nigeria resident doctors go on strike over PPEs
  • Kenya’s Kenyatta speaks at Atlantic Council on US-Africa trade
  • Uganda opposition coalition protest against Museveni
  • World Bank discusses Africa’s fiscal policy space to address covid-19 economic impacts; Okonjo-Iweala key speaker
  • Nigeria inflation May-20 [fcst. 12.4% yy, prev. 12.3%]
  • Key African countries on lockdown or restricted; subdued economic activity
  • Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today

  • Cape Verde can hold businessman who is close to Maduro for up to 40 days pending extradition
  • Botswana lifts coronavirus lockdown in capital city
  • Mali says 24 soldiers killed in ambush on Sunday
  • France wants talks about ‘aggressive’ Turkish role in Libya
  • Nigeria doctors strike for better benefits during coronavirus crisis
  • Senegal says two soldiers killed after vehicle hit anti-tank mine
  • South Africa rand drops as virus fears hit riskier assets
  • Sudan finds mass grave of conscripts killed during Bashir’s rule
  • South Africa’s Telkom flags 70% fall in annual earnings
  • Africa Oil – Angolan programmes awaited amid glut
  • Kinross Gold resolves Mauritania disputes and secures expansion
  • Gunmen ambush Mali army convoy, soldiers killed – residents
  • Turkey eyes Libya bases for lasting military foothold – source
  • Up to 17 infected, 11 dead in new ebola outbreak in Congo
  • For black people in France, George Floyd protests are personal
  • Nigeria sells 162.6 bln naira of [sukuk] bonds – debt office
  • Botswana investigates 154 elephant deaths, rules out poaching
  • Turkey says no issues with Russia on Libya after talks delayed
  • Siege of Libya’s Sirte behind Turkey-Russia talks delay – Turkish official
  • Sudan war crimes charges are untrue, suspect says
  • IMF cuts Senegal’s 2020 GDP forecast to 1.1%
  • UN rights expert asks to give evidence in South Africa air pollution case
  • UN rights body to examine US racism, police brutality – statement
  • Kenya shilling holds steady, remittances and horticulture exports help
  • Credit from Safaricom’s farming app sows seeds of change in Kenya
  • Congo fashion designer goes virtual as virus hits runway shows
  • South Africa Discovery warns of up to 90% profit plunge
  • Congo’s gold being smuggled out by the tonne, UN report finds
  • Tunisia PM decides against relying on more external debt, will freeze salaries

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

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