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South Africa lost its last investment-grade rating in March, and will be excluded from the World Government Bond Index on Thursday. Some large overseas funds will no longer be able to hold its debt.
Local investors are cushioning the impact so far.
Forced foreign selling of rand bonds pressures the currency, which can raise import costs for feed ingredients priced in dollars.
reuters.comAlexander Winning, Tom ArnoldApr 30, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
