-- The most pivotal South African election in decades is already turning the tide of the country’s financial markets.China-Bound Oil Tanker Hit by Houthi Missile in Red Sea, US SaysMoney has been pouring into the country on a bet that the African National Congress will win enough of the vote to avoid being forced by left-leaning coalition partners to implement less market-friendly policies.
“Those who have been disappointed have the memory of an elephant,” Msibi said. “They never forget or easily relinquish their reservations, demanding compelling evidence of change.” “Our base case remains that the ANC wins this election outright with an overall majority,” said Razia Khan, head of research at Standard Chartered Bank. “If that doesn’t happen, we still think it’s a likely coalition with relatively benign, relatively centrist coalition partners.”
Citigroup Inc. strategists including Bhumika Gupta have turned overweight on the debt and expect fresh inflows into bonds in the months ahead.
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