Regional Asset Class Strategy
The South African rand looks precarious and will likely move to ZAR11.0000/US$ in the near term.
We are increasingly positive towards Ugandan local debt, and will consider initiating a key view in our asset class strategy table.
We see little value in Sub-Saharan African eurobonds due to an increasing mismatch between low yields and often shaky fundamentals. Even so, new issuances by Kenya, Angola, and Côte d'Ivoire will likely be well-received.
|Ups And Downs|
|SSA - BMI Q1 2014 Currency Forecast, Appreciation/Depreciation %|