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Citi's head of emerging markets said President Ramaphosa must move quickly on economic reforms to capitalize on a weak dollar and Chinese growth before the 2019 elections. Bonds, stocks and the rand had climbed to record highs in the so-called Ramaphosa rally.
Citi argued that reform implementation is needed to turn optimism into long-term investment.
Investor sentiment toward South Africa drives the rand, which affects the local cost of imported feed inputs. The story has no direct bearing on global feed commodity prices.
moneyweb.co.zaMfuneko Toyana, ReutersFeb 20, 2018Not 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.
