27/11/2017
SA Junked again... As we know S&P have bumped us down a notch to BB
Just a quick read on what this means for SA, curtesy of Nolan Wapenaar of Anchor Capital:
The immediate impact is that South Africa will be removed
from the Barclays Government Bond index, triggering what we
estimate to be about R50bn of bond sales. We remain a part
of the Citibank World Govt Bond Index by virtue of the
Moody’s rating. One further downgrade from Moody’s will
trigger the avalanche of bond sales that everyone is fretting
over.