Monthly Market Review – November 2025
Global markets were relatively flat in November as investors worried about high technology valuations. The MSCI World Index rose just 0.3% but remains up 20.6% for the year. In contrast, the JSE continued its winning streak with a ninth consecutive monthly gain of 1.7%, pushing the All-Share Index past 115,000 points for the first time and bringing year-to-date returns to 31.9%.
The 2025 medium-term budget – a snapshot
In his latest economic commentary, Dr Roelof Botha, Economic Advisor to the Optimum Investment Group, unpacks the key takeaways from South Africa’s 2025 Medium-Term Budget Statement.
From stronger-than-expected revenue collection and a stabilising debt-to-GDP ratio, to the newly adjusted inflation target and its potential impact on growth – Dr Botha explores the balance between fiscal discipline and the realities of a slow-growing economy.
Monthly Market Review – October 2025
Global and local markets delivered another strong month in October, defying the typical “October effect”. Investor sentiment was supported by a 25bps rate cut from the US Federal Reserve and easing trade tensions between the US and China. The MSCI World Index rose 2.0%, taking its year-to-date gain above 20%. Locally, the JSE recorded its eighth straight monthly advance, led by robust performances from the financial and property sectors.
To the Point – November 2025
Our monthly To the Point column by economist Dr Roelof Botha offers in-depth analysis and commentary on the latest economic trends, market developments, and financial news. Designed to keep you informed and ahead of the curve, each edition delves into key economic indicators, explores their impact on global and local markets, and provides insights to help you navigate the ever-changing economic landscape.
To The Point – October 2025
Our monthly To the Point column by economist Dr Roelof Botha offers in-depth analysis and commentary on the latest economic trends, market developments, and financial news. Designed to keep you informed and ahead of the curve, each edition delves into key economic indicators, explores their impact on global and local markets, and provides insights to help you navigate the ever-changing economic landscape.
OIG Monthly Market Review – August 2025
Global and local markets extended their positive run in August, supported by resilient corporate earnings, firm commodity prices, and growing expectations of monetary easing in the United States. The MSCI World Index gained 2.6% for the month, while South Africa’s equity market continued its strong momentum, advancing for the sixth consecutive month, with gold miners once again driving the performance. Although political risks in Europe and renewed trade tensions created some volatility, sentiment remained constructive as investors focused on interest rate policy and the global growth outlook.
To The Point – September 2025
Our monthly To the Point column by economist Dr Roelof Botha offers in-depth analysis and commentary on the latest economic trends, market developments, and financial news. Designed to keep you informed and ahead of the curve, each edition delves into key economic indicators, explores their impact on global and local markets, and provides insights to help you navigate the ever-changing economic landscape.
To The Point – August 2025
Our monthly To the Point column by economist Dr Roelof Botha offers in-depth analysis and commentary on the latest economic trends, market developments, and financial news. Designed to keep you informed and ahead of the curve, each edition delves into key economic indicators, explores their impact on global and local markets, and provides insights to help you navigate the ever-changing economic landscape.
OIG Monthly Market Review – July 2025
July marked a pivotal month for financial markets, both domestically and globally. Locally, the FTSE/JSE All Share Index broke through the 100,000-point milestone for the first time, driven by robust commodity prices, resilient corporate earnings, and a supportive interest rate cut by the South African Reserve Bank. Globally, investor sentiment was supported by easing inflation pressures, a solid United States earnings season, and more accommodative monetary signals from major central banks. Equity markets across developed and emerging regions posted healthy gains. Together, these factors created a broad risk-on environment, lifting both local and global asset classes.
South Africa faces fresh trade headwinds as U.S. imposes 30% tariff amid BRICS tensions
As geopolitical tensions intensify, South Africa is facing a formidable challenge to its trade and economic stability. The U.S. government’s decision to impose a 30% tariff on South African imports, effective 1 August, underscores growing friction between Washington and BRICS-aligned nations.