To say that the Trump administration’s varied and often controversial executive orders and policy changes have kept market participants on edge is an understatement. Philip Saunders, director of the Ninety One Investment Institute, explains in a recent podcast dated 19 March, why US assets, having been a dominant force for investors for so long have…
Within a few days from now, Donald Trump is set to be inaugurated as the 47th president of the US. His return to the White House is, as we have noted in previous newsletters, cause for both trepidation and anticipation for equity markets, given his promises to slay many of the sacred cows in modern…
At the outset of 2024, some of the more optimistic banks and analysts forecast that there was scope for the rand to power to R16/$ by the end of the year. But despite the optimism surrounding the formation of the Government of National Unity (GNU) and hope for interest rate cuts in the US, the…
For many years, trusts in general were not subject to punitive tax and regulatory scrutiny, which made them the most tax-efficient vehicle for high-net-worth families to preserve wealth and pass this down to their heirs. However, tax authorities around the world have increasingly tightened up on many of the loopholes that once made them so…
The USDZAR exchange rate has been a very informative instrument through which to view major political events that have unfolded in our country over the last 20 years. Knowledge of the fair value estimate, awareness of the mean-reversion characteristics of the fair value residual, and the ability to decompose the residual into an Emerging Market…
The third quarter of 2024 might have been good for equities, but it was less so for the US dollar. The US dollar index (DXY) dropped around 4.8% against a basket of currencies, turning in its worst quarterly performance in nearly two years. According to Reuters, Commodity Futures Trading Commission data indicates that net bets…
With global equity markets at record highs, advisors and investors can be justifiably concerned as to the timing of committing large sums of money to this asset class. In this article, we have researched the data of global equities performances over the past 30 years, using the MSCI World as a proxy, and using multiple…
The following article was commissioned by Dynasty for our clients and compiled by our research partner, Analytics Consulting, as represented on our Investment Committee. Since South Africa went to the polls on 29 May of this year, the USD/ZAR exchange rate has moved from a level of R18.40/$ on that day to a level of…
As we enter the second half of the year, the world’s attention is turning to the blockbuster event of the political calendar: the US presidential election in November. Judging from previous election years, we can expect volatility to increase as investors and traders try to predict who the winner will be and what impact their…
