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The rand fell sharply after the South African government published a plan to rescue Eskom, the state power utility. The plan would split off Eskom's transmission unit and open generation to private suppliers, and bond yields rose as investors weighed the cost of the bailout.
A weaker rand and higher sovereign borrowing costs raise the cost of imported feed inputs in South Africa. The rescue cost also points to continued fiscal strain.
bloomberg.comDana El Baltaji, Selcuk GokolukNov 1, 2019Not 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.
