SIMON BROWN: I’m chatting now with Daniel King, head of fixed income at Counterpoint Asset Management. Daniel, I appreciate the early morning time. You put out a note last week around our bonds, and you make the point that South African bonds are – we’ll get to the vigilance part in a moment – cheap, particularly relative to their peers, offering opportunity here.
Plausibly, if the inflation target is lowered to the peer level over the next decade, it could be as much as 6%/7% real at some point in the future. That is just unparalleled in the developed-market space, where real interactions for the most part are still negative. So yeah, we are generally quite overweight South African bonds, but we’re also quite sensitive to the risk involved as we highlighted in the note which we published.
Arguably we have more central bank independence than even the [US] Fed or the ECB, which have arguably become quite politicised in a way.
DanielKingCPAM Counterpoint_SA As a mother of two kids I have battled alot with my financial state to the point of begging from friends just to survive,until I started Bitcoin trading with the help of _AMBREYMARCUS1 I made a successful withdrawal of R 200,000 with the help of _AMBREYMARCUS1 .
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