# SA assets tumble as gloom pervades fiscal outlook - Moneyweb

> South African bank stocks and bonds fell sharply, with the rand heading for its biggest weekly slide since 2015, after President Zuma fired Finance Minister Pravin Gordhan. The 10-year bond yield jumped 35 basis points to 8.86% and a bond auction failed to raise the full amount.

- Date: 2017-03-31 · published 2017-03-31T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/72269-sa-assets-tumble-as-gloom-pervades-fiscal-outlook-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Political turmoil threatens South Africa's investment-grade rating, weakening the rand and raising local borrowing costs, which can squeeze import-dependent feed and oilseed buyers through currency-driven input costs.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/markets/south-africa-turmoil-sends-rand-to-worst-week-since-2015/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.