Foreigners sell rand assets at record pace as Eskom woes mount – Energy Expert Coalition

Foreigners sell rand assets at record pace as Eskom woes mount

Foreigners are ditching South African assets at the fastest pace on record as concern mounts that the government will lose its last investment-grade rating.

Overseas investors have sold a net $4.8 billion of South African equities and bonds in 2019, the most on a year-to-date basis in data going back to 1998, according to data compiled by Bloomberg.

Outflows, particularly from fixed-income securities, have accelerated since the start of June as ratings companies and banks turned more bearish about South Africa’s fiscal outlook.

Foreigners sell rand assets at record pace as Eskom woes mount – Energy Expert Coalition

Jul 30, 2019Uncategorised Foreigners are ditching South African assets at the fastest pace on record as concern mounts that the government will lose its last investment-grade rating. Overseas investors have sold a net $4.8 billion of South African equities and bonds in 2019, the most on a year-to-da…


Source