Events that moved the market 2017
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15 Feb 2017Source: AFPTax plan spurs on US stocksTrump promises details around his proposed tax cuts. The Dow Jones Industrial Average, the S&P 500 and Nasdaq Composite Index reach new highs for the fifth consecutive day.
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15 Mar 2017Source: Bloomberg NewsUS hikes interest ratesThe Fed hikes the target range for the federal funds rate by 0.25, as widely anticipated. US CPI is up 2.7%, the most in four years.
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23 Mar 2017Source: Bloomberg NewsECB stops free loansThe European Central Bank (ECB) allots the final round of Targeted Longer-Term Refinancing Operations - four-year loans at an interest rate that starts at zero and could go lower.
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29 Mar 2017Source: AFPBrexit launchesPrime Minister Theresa May launches the Brexit process with a six-page letter hand-delivered in Brussels by the UK ambassador to the EU.
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30 Mar 2017Source: Eyewitness NewsA Cabinet reshufflePresident Jacob Zuma orchestrates a Cabinet reshuffle, which leaves Pravin Gordhan without a portfolio and Malusi Gigaba in charge of the finance ministry.
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3 Apr 2017Source: Eyewitness NewsSA downgradedStandard & Poor’s downgrades SA local currency debt to one notch above non-investment grade (junk) and foreign currency debt to junk.
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8 May 2017Source: Bloomberg NewsEuropean stocks unmoved by MacronMacron’s victory has little impact on European stocks, which have already rallied 9% year-to-date.
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1 June 2017Source: Statistics SASA unemployment growsSA unemployment increases to 27.7% - the highest figure since September 2003.
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5 June 2017Source: Bloomberg NewsEurozone picks up the paceEurozone manufacturing and services are expanding at the fastest pace in six years, powered by growth in Germany and France.
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6 June 2017Source: Statistics SASA enters recessionSA officially enters a recession as GDP contracts by 0.7 in Q4 2016.
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14 June 2017Source: The GuardianFed hikes rates againThe Fed raises the federal funds target rate to 1-1.25%, making it the fourth hike in the past 18 months.
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16 Jul 2017Source: CNBCChinese growth tops expectationsChinese second-quarter GDP growth of 6.9% surprises on the upside.
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20 Jul 2017Source: SA Reserve BankSurprise rate cut for SAThe SA Reserve Bank’s MPC cuts interest rates by 25 basis points, the first cut in five years. That brings the repo rate to 6.75% p.a.
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27 Jul 2017Source: Bloomberg NewsAsian shares hit 10-year highThe MSCI Asia Pacific Index rises to the highest level since December 2007 on strong earnings from some of the region’s key companies and the Fed’s dovish comments.
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28 Jul 2017Source: Bloomberg NewsUS growth spurtUS GDP grows by 2.6% in Q2, spurred by consumer spending, the biggest part of the economy.
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5 Sept 2017Source: ReutersSA slips out of recessionSA GDP rises 1.1 after the first quarter’s 0.6% contraction.
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27 Sept 2017Source: AFPTrump tax plan boosts marketsUS stocks rally as President Trump reveals plans to cut corporate tax from 35.
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25 Oct 2017Source: JSEGigaba delivers his first mini budgetMinister Gigaba announces that Treasury will increase its borrowings in the international market. Offshore investors offload R5.13bn of SA bonds, the most in six years.
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2 Nov 2017Source: BloombergUK hikes interest ratesThe Bank of England raises the benchmark rate to 0.5. It also raises concerns that the economy is fragile as the 2019 split from the EU nears.
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24 Nov 2017Source: fin24SA a deeper shade of junkS&P downgrades SA's local currency rating to 'BB+' from 'BBB-' and lowers the foreign currency debt to 'BB', the second rung of non-investment grade (junk).
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5 Dec 2017Source: MoneywebSteinhoff tumblesMarkus Jooste, the CEO of Steinhoff International, resigns amid the company’s admission of accounting irregularities. The share price plunges by more than 80% within days.
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18 DecSource: Eyewitness NewsRamaphosa takes the reinsCyril Ramaphosa is elected the new president of the African National Congress.
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19 DecSource: The New York TimesSenate approves US tax billThe $1.5 trillion US tax bill, which will make deep cuts to corporate taxes, is approved by the Senate.
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28 Dec 2017Source: AFPDow Jones closes at new highThe Dow Jones Industrial Average finishes at 24 837.51, a new record.
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