On The Deals Shaping Our Economy
Trump's 5 Day Pause
Donald Trump injected wild volatility into global markets, delaying a threatened US strike on Iranian energy infrastructure by five days.
Why it matters: Global markets swung violently.
Brent crude plunged 9% after topping $114 a barrel earlier in the day.
Wall Street's "fear gauge" (the Vix) plummeted.
What they're saying: The US President hailed "very good and productive" conversations with Tehran.
Yet Iranian officials publicly rejected claims of any direct negotiations.
Bottom line: The only thing less predictable than the markets, are communications from the White House.
Local Fallout: JSE's Historic Bleed
South Africa's stock exchange is staring down its worst month since the 2008 financial crisis.
By the numbers: The JSE All Share Index has cratered almost 16% in March.
Driving the news: Rampant inflation fears tied to the Strait of Hormuz blockade are crushing local mining and banking stocks.
More than R615bn evaporated from the country's top three gold miners alone.
The catch: As global investors sprint to the US dollar as a safe haven, the rand sank to a three-month low of R17.18/$.
The US-EU Energy Ultimatum
The Trump administration is threatening to pull Europe's "favourable" access to US liquefied natural gas unless the EU ratifies the Turnberry trade deal untouched.
The backdrop: Europe is vulnerable due to its dependence on gas imports.
Qatar, a massive LNG supplier, halted exports after Iran blockaded the Strait of Hormuz.
Between the lines: US Ambassador Andrew Puzder warned that without the deal, "we're back to square one".
He added bluntly: "If they're going to survive economically, they need energy, and we can supply it".
The friction: The EU parliament included safeguards that would suspend the agreement if Trump followed through on new tariff threats.
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