1 00:00:00,440 --> 00:00:02,719 Speaker 1: The money show, the markets. 2 00:00:03,240 --> 00:00:05,640 Speaker 2: Grant Naida watching the markets, and I'm sure he has 3 00:00:05,680 --> 00:00:08,720 Speaker 2: been quite sweaty and nervous in the past week with 4 00:00:08,840 --> 00:00:12,039 Speaker 2: that two week truth between the US and Iran announced 5 00:00:12,080 --> 00:00:14,960 Speaker 2: earlier in the week, still not quite convincing in a 6 00:00:14,960 --> 00:00:17,800 Speaker 2: lot of fragility in the markets at Grant Naida are 7 00:00:17,840 --> 00:00:18,959 Speaker 2: welcome to the money Show. 8 00:00:20,160 --> 00:00:21,440 Speaker 1: Good evening, matter, thank you. 9 00:00:22,079 --> 00:00:25,680 Speaker 2: Pertually, you can go go, go right ahead, go right ahead. 10 00:00:26,000 --> 00:00:27,600 Speaker 1: No, I was going to say, certainly, there is some 11 00:00:27,760 --> 00:00:30,160 Speaker 1: caution ahead of this weekend, but it's a big weekend 12 00:00:30,160 --> 00:00:34,000 Speaker 1: for markets as the seafire talks go to the table 13 00:00:34,000 --> 00:00:37,920 Speaker 1: in Pakistan. And the interesting part is the market actually 14 00:00:37,920 --> 00:00:40,920 Speaker 1: bottomed a week and a half ago, even before the 15 00:00:40,920 --> 00:00:44,040 Speaker 1: seafire was put on the table, and now we've seen 16 00:00:44,080 --> 00:00:46,960 Speaker 1: the strong rally into this weekend on the news of 17 00:00:47,000 --> 00:00:49,479 Speaker 1: the ceasefire. So there's some more good news in the 18 00:00:49,520 --> 00:00:52,640 Speaker 1: price than we're seeing on the headlines. So we're hopefully 19 00:00:53,120 --> 00:00:56,280 Speaker 1: going to see some follow through. I think from my part, 20 00:00:56,320 --> 00:00:58,720 Speaker 1: the fact that there's two willing parties that sit down 21 00:00:58,760 --> 00:01:01,440 Speaker 1: at the table is vital, even if their needs are 22 00:01:01,480 --> 00:01:04,679 Speaker 1: far apart. If they don't get together for whatever reason, 23 00:01:04,720 --> 00:01:07,840 Speaker 1: I think that will be taken very negatively so but 24 00:01:07,959 --> 00:01:10,080 Speaker 1: hopefully we at least come out of this with an 25 00:01:10,080 --> 00:01:13,319 Speaker 1: agreement to negotiate further. And I think that markets are 26 00:01:13,319 --> 00:01:16,080 Speaker 1: already trying to look through this. There's been a lot 27 00:01:16,120 --> 00:01:20,160 Speaker 1: of bottom picking and value hunting and bargain seeking, both 28 00:01:20,200 --> 00:01:23,319 Speaker 1: here and globally. So it's an interesting place we're moving 29 00:01:23,319 --> 00:01:25,600 Speaker 1: into on the weekend, quite. 30 00:01:25,360 --> 00:01:27,360 Speaker 2: A tough one, and we're already seeing the numbers out 31 00:01:27,400 --> 00:01:29,800 Speaker 2: of the US and also other parts of the world 32 00:01:29,800 --> 00:01:32,880 Speaker 2: with a lot of inflation fears being put through by 33 00:01:33,000 --> 00:01:34,080 Speaker 2: this particular conflict. 34 00:01:35,400 --> 00:01:39,240 Speaker 1: Yeah, I mean the US inflation numbers were significantly higher. 35 00:01:39,520 --> 00:01:41,640 Speaker 1: Definitely not what the FED wants to see and definitely 36 00:01:41,640 --> 00:01:44,440 Speaker 1: not what Trump wants to see. You would have to say, 37 00:01:44,440 --> 00:01:47,920 Speaker 1: it puts the rate cuts very much in doubt. I 38 00:01:47,960 --> 00:01:49,920 Speaker 1: think they were already in doubt. But people are still 39 00:01:49,960 --> 00:01:54,160 Speaker 1: always optimistic. You know. This is a big spike, and 40 00:01:54,680 --> 00:01:57,520 Speaker 1: it's also known well known that going into elections in 41 00:01:57,560 --> 00:02:01,160 Speaker 1: a high arising inflation environment, no rate cuts, this is 42 00:02:01,200 --> 00:02:04,000 Speaker 1: not very popular and Trump will be very aware of this. 43 00:02:04,040 --> 00:02:07,400 Speaker 1: He is a market first president, so I think this 44 00:02:07,480 --> 00:02:09,680 Speaker 1: is going to be a concern, and I think it's 45 00:02:09,680 --> 00:02:12,600 Speaker 1: a read through for South Africa because remember energy feeds 46 00:02:12,639 --> 00:02:16,600 Speaker 1: through into headline inflation numbers immediately and feeds through into 47 00:02:16,639 --> 00:02:20,760 Speaker 1: core inflation over time. So I suspect we'll we'll, we'll 48 00:02:20,800 --> 00:02:23,280 Speaker 1: have that, like, let's wait and see you. Look, as 49 00:02:23,760 --> 00:02:28,280 Speaker 1: headline inflation will spike, expectations will be pushed even further 50 00:02:28,320 --> 00:02:31,760 Speaker 1: out unless we see some resolution to this conflict in 51 00:02:31,800 --> 00:02:32,600 Speaker 1: the next month or so. 52 00:02:32,960 --> 00:02:35,320 Speaker 2: All Right, that was our grant need A portfolio manager 53 00:02:35,360 --> 00:02:38,920 Speaker 2: at Banguelo Global Fund Managers, the jc OR share ending 54 00:02:39,000 --> 00:02:41,799 Speaker 2: their in positive territory up eight hundred and twenty points, 55 00:02:41,800 --> 00:02:44,680 Speaker 2: while the rand at this hour sixteen round forty two 56 00:02:44,760 --> 00:02:48,760 Speaker 2: ahead of those unnegotiated talks this weekend. Look, it's quite 57 00:02:48,840 --> 00:02:50,920 Speaker 2: tight on the market, quite nervous, but we'll have to 58 00:02:50,960 --> 00:02:54,079 Speaker 2: wait for Monday nine am to see how the markets react.