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Fitch Ratings became the second agency to cut South Africa's credit rating to junk, which pushed the rand and dollar bonds lower. JPMorgan said it would remove South Africa from index gauges tracked by $59 billion of funds.
Index exits can force selling of South African assets and keep the rand under pressure. The downgrade also leaves the local-currency rating near junk.
bloomberg.comRobert Brand, Paul WallaceApr 7, 2017Not 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.
