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Economic Overview

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  • 29 August 2023

    Central banks in many countries around the world keep on talking a big game, and rightfully so. If consumers start believing that above-trend inflation is over, they might push inflation higher into unwanted territories again. But for now, it seems as though central banks have succeeded in containing inflation. Amidst the sea of short-term noise, it is difficult to determine how the global economy will make it out in one piece. But, fundamentally, we should see stronger emerging markets on the other end.

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  • 22 August 2023

    The world of finance and investments is often associated with numbers and statistics but the real-world experience looks a bit different with behavioural patterns often playing a significant role in financial markets. Behavioural finance is the study of the psychological influences and biases that both investors and financial practitioners experience when making financial decisions.

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  • 15 August 2023

    This week, we venture into the realm of alternative assets, where the mundane gives way to exhilarating possibilities. We discover the enchantment of cryptocurrencies, vintage wines, and fine art, all unconventional yet alluring avenues for wealth growth. This uncharted territory blends innovation with risk, rewriting the rules of traditional investments.

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  • 3 August 2023

    For almost three decades, the ruling party in South Africa (SA) has been relying on redistributive policies to build a more economically-just society. In doing so, SA’s inequality, as measured by the Gini coefficient, improved but only marginally. Unfortunately, SA is still the most unequal country in the world. But by using the incorrect policies, we now also have the highest unemployment rate, especially if we consider youth unemployment and that almost half of our population still lives in poverty.

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  • 31 July 2023

    Efficiency can be defined as the ability to achieve an end goal with little to no waste, effort, or energy. While efficiency is a key part of the Efficient Group’s inherent philosophy and the way that it goes about its business (the name says it all), this definition does not encapsulate the essence of the Group’s 20-year journey. Indeed, it has been an all-out effort from day one. Without endless energy, passion, and enthusiasm, there would be no Efficient Group today.

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  • 25 July 2023

    The global economy is heading towards an evermore uncertain place. Late in 2021, markets anticipated that central banks around the world would start to increase interest rates, and they subsequently did. Now, almost 18 months later, economies are giving mixed signals. Inflation is coming down in key regions, like North America and Europe, but not enough. Some economies, like India, are showing signs of life but others, like China, are really struggling.

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  • 18 July 2023

    Since the arrival of the internet, talks about the “information age” and its many benefits have taken place continuously. Benefits such as cheap, or even free, access to large volumes of information. But the discussion rarely progresses to the potential negative impacts that might arise from too much information. We believe that the benefits of access to information are real, clear, and well-documented, however, as with anything in life, too much of a good thing is generally bad.

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  • 11 July 2023

    The strong June jobs report in the United States (US) is likely to leave the Federal Reserve (Fed) on course to raise interest rates to a 22-year high during their next meeting to cool off the economy and to combat inflation. Employers in the US added 209 000 jobs in June, causing the unemployment rate to fall from 3.7% in May to 3.6% in June. This is ever closer to the 53-year low of 3.4%. June’s increase was the smallest since December 2020 and is one of the indicators pointing towards a slowdown in the world’s largest economy.

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  • 6 July 2023

    The active versus passive investment strategies debate has been raging for many years, with both sides trying to make the case for their own strategy at the expense of the other. Without pre-empting our own beliefs on this matter, we will start with the words of John C Maxwell: “A great idea is simply the combination of many good ideas”.

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  • 27 June 2023

    Over the past two decades, we have arguably witnessed the greatest era in men’s tennis. We saw a constant tug-of-war between Roger Federer, Rafael Nadal, and Novak Djokovic. Federer, who originally held the most Grand Slam titles, was overtaken by Nadal, who was recently dethroned by Djokovic. It now seems likely that Djokovic will be crowned the Greatest of All Time. Well, at least until the next tennis star comes along.

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  • 20 June 2023

    At their latest Monetary Policy Committee meeting, the United States (US) Federal Reserve (Fed) decided to leave interest rates unchanged at 5% to 5.25%, following 10 consecutive hikes over a 15-month period. But the Fed remains unwavering in its commitment to bringing inflation down to its 2% target. Jerome Powell, the Chairman of the Fed, therefore, made the comment that more hikes may be needed later this year.

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  • 19 June 2023

    As human beings, we always want to be in control of our circumstances. It is, therefore, normal to feel powerless when things outside of our control direct our circumstances. More recently, for some of us who wish to externalise funds, that driving force has been the weakening rand.

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