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South African bank stocks and bonds tumbled and the rand headed for its biggest weekly slide since 2015 after Gordhan's firing raised concerns about the fiscal path and the investment-grade rating. The 10-year yield rose 35 basis points and a bond auction fell short.
A downgrade risk and weaker rand raise the cost of South African imports, a minor factor for global feed markets.
afr.comRobert Brand, John ViljoenMar 31, 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.
