US bonds: Follow the money
Asset managers have increased their US Treasury exposure since September, but the outlook for bond yields and equity valuations remains tied to interest rates and AI spending.
Bonds
What if? The R69.7bn question behind the PIC’s Isibaya portfolio
A BER analysis finds that the same cash flows could theoretically have produced R69.7bn more in the bond market, while highlighting the limits of comparing returns with developmental objectives.
Why I’m bracing for a surge in stock market volatility
Rising bond yields and widening credit spreads suggest mounting risk, but equity valuations have yet to reflect it, raising the prospect of sharper market drawdowns.
A better year ahead? The economic outlook starts to look promising
From the rand and commodities to electricity and logistics, several pieces of the South African investment story are moving in the right direction.
How your investments fared in a volatile first quarter
A sharp market sell-off triggered by the Middle East conflict dented first-quarter returns, but local shares, bonds and property still posted strong 12-month gains.
SA equities still trade at a discount as global markets grow more concentrated, says Discovery
Discovery Invest’s 2026 outlook highlights improved domestic fundamentals, attractive relative valuations, and scope for rate easing.
Ninety One flags shift from US dominance to broader opportunity sets
John Stopford says future market returns may be shaped by different forces than those of the past decade, with implications for South African assets.
I prefer US government bonds ahead of corporate bonds
A portfolio split of 60% US Treasuries and 40% investment-grade corporate bonds emerges as the efficient frontier.
The rand: more than meets the eye
Ahead of South Africa’s election, foreign asset managers increased their exposure as the 10-year bond yield gap reached 8%. Recent fluctuations, driven by speculative futures and options trading underscore the complex forces at play behind the rand’s performance.
US bonds: when a dead asset comes alive
With the risk premium of bonds relative to equities at a 20-year low, US bonds – particularly medium-term ones – are regaining their relevance in diversified investment portfolios.
Fund managers cautiously optimistic on domestic assets
While bullish sentiment towards equities cools, local assets remain a top pick for 2025, with gold and bonds gaining favour, BofA survey finds.
Cautious investors pivot to domestic assets as rand strengthens post-election
The stronger rand has shifted the focus back to domestic equities and property. Managers leaning into local value and shedding expensive offshore assets are reaping the rewards of this pivot.
Why I have turned bullish on South African assets
A comparison of current market behaviour with the pivotal 1994 election period points to the potential for a rally in the rand and financial shares.
Fund managers anticipate post-election rally in local equities
A potential leftward shift in policy is seen as the biggest risk to SA equities, followed by weak earnings and sticky inflation, according to the BofA survey.
Positive Budget bodes well for domestic bonds and equities
Old Mutual weighs in on how the Budget is likely to affect the country’s credit rating, economic growth, and the capital markets.
PortfolioMetrix lists actively managed bond ETF
The fund offers professional and retail investors access to more attractive parts of the market that do not fall within the fixed-income indices.
SA investment managers are the most bullish on bonds since 1999
Fund managers believe the economy and inflation are heading in the right direction, according to a Bank of America survey.
