Global markets rallied on Tuesday after US consumer confidence figures were the only positive confidence figures coming out of world markets, as French, Italian and German sentiment turned bearish. Hilary Clinton seems to have the upper hand after the first presidential debate against Donald Trump. It’s funny how this result also fuelled the market rally on Tuesday. OPEC have announced a slight downward curb in oil production, which shot oil prices through the roof over the last two days (over 6%), bringing about a psychological demand for the natural energy resource. After having an amazingly robust week or two, the South African rand slid from R13.40 to around R13.90 against the US dollar off the back of stronger American markets.
Read more in the document below:
UBS Global Real Estate Bubble Index | Cannon Asset Managers research