Global Trade
Silver (XAGUSD) surged past $53/oz, driving African premiums to $1.85 and exposing dependence on London pricing. With only 30% of output hedged and ZARUSD −3.6%, miners gained nominally but lost liquidity as volatility drained regional markets.
United States
A $19 billion liquidation across BTC-USD, ETH-USD, and SOL-USD exposed how algorithmic margin systems turned volatility into reflexivity, rewarding two Hyperliquid traders who monetized speed as the market imploded.
Kenya
Kenya’s US$1.5 billion Eurobond issue and US$628 million buyback are a masterclass in optics—buying time, not solvency. Nairobi regains market access but deepens FX risk, proving that financial engineering cannot outrun fiscal gravity.
Ethiopia
Ethiopia’s first AfCFTA shipment to Kenya signals Africa’s trade integration in motion. With GDP growth near 7 % and 5 %, and currencies stabilizing (USD/KES ≈ 129.4), the two economies activate a USD 3.4 trillion market—testing Africa’s logistics, FX, and policy cohesion for global investors.
Asia-Pacific
HSBC (LON: HSBA, NYSE: HSBC) eyes full buyout of Hang Seng Bank (HKG: 0011) in a USD 37 bn move that could reshape Asia’s banking map. Hang Seng +9 %, HSBC +3.4 %, CET1 near 14.6 %, ^HSI +1.2 %. A strategic bet on Hong Kong’s stability amid global capital strain.
South Africa
The EU’s €11.5 billion pledge to South Africa marks a new phase in climate-finance diplomacy. If effectively deployed, it could compress bond yields by up to 60 bps, strengthen the rand (USD/ZAR ≈ 18.9), and turn energy transition risk into an investable frontier asset.
Africa
Africa’s bond markets are rallying as the dollar weakens, with Kenya’s 2032 yielding 9.3% and Egypt’s 9.8%. Global investors are returning to frontier debt, but credibility—not yield—will determine who secures capital in this short global liquidity window.
Côte d’Ivoire
Barrick Gold (NYSE: GOLD) sold its Tongon Mine in Côte d’Ivoire to Atlantic Group for up to USD 305 million. The move trims risk exposure and refocuses capital on Tier 1 assets as gold trades near USD 3,930/oz (COMEX: GC=F), redefining how majors price jurisdictional risk.
Egypt
Qatar-Energy’s 27 % stake in Egypt’s offshore Block 3 marks a strategic Gulf return to North Africa’s energy scene. With Egypt’s FX reserves near USD 36 bn and inflation ≈ 33 %, the deal brings capital, credibility, and stability to Cairo’s upstream revival.
Oil & Gas
Oil’s rebound to USD 85 (LCOc1) after OPEC+’s modest hike hides fragility. Demand from China softens, US10Y (^TNX) ≈ 4.35% tightens credit, and Africa faces inflation strain as USD/KES and USD/TZS weaken. Relief rally or last gasp of petro-policy credibility?
Global Markets
Kazuo Ueda faces a defining test as Japan edges toward ending decades of ultra-easy policy. With inflation steady, wages fragile, and the yen sliding (USD/JPY: JPY= 147.7), global markets brace for ripple effects from Tokyo to Johannesburg.