Investec Investec Focus Radio SA

No Ordinary Wednesday Ep 133 | Bond markets: A licence to yield.

Loading player...
The easy gains may be over, but the case for bonds is not. Annelise Peers, Chief Investment Officer at Investec Bank Switzerland, and Awongiwe Booi, Fixed Income Analyst at Investec Investment Management in South Africa, unpack why attractive yields, easing inflation and South Africa’s underpriced reform story could make fixed income a source of return, not just protection, and what could still spoil the opportunity.
Chapters
  • 00:00 Can AI-led investment boost productivity without fuelling inflation?
  • 02:30 Does the South African fixed income case still hold?
  • 03:59 Could stronger consumer demand become the next inflation risk?
  • 06:01 How should investors distinguish temporary from persistent inflation?
  • 07:22 Are US bond investors being paid to wait?
  • 09:23 What is underpinning the rand’s resilience?
  • 11:31 Is fixed income becoming a return asset rather than just a hedge?
  • 12:45 Where is the strongest opportunity in South African fixed income?
  • 15:04 Can long-term bond yields stay high as central banks cut rates?
  • 16:31 What would prove South Africa’s fiscal consolidation is durable?
  • 18:07 Which indicators point to a global Goldilocks scenario?
  • 19:32 What should South African investors watch through year-end?
12 Aug English South Africa Business · Investing

Other recent episodes

Macro Monday Ep126: Warsh’s hawkish speech

New Fed chief Kevin Warsh delivered a hawkish speech at the Jackson Hole symposium of central bankers on Friday, leading to a stronger US dollar and increased expectations of rate hikes this year and next year. Investec Investment Management’s Investment Strategist Osagyefo Mazwai examines what this means for the US…
31 Aug 9 min

No Ordinary Wednesday | The economics of tourism in SA

South Africa’s growth challenge is shifting from reform to delivery. Tourism is part of that test. International arrivals rose 12.3% in the first half of 2026. And phase III of the government-business Partnership now puts the sector firmly on the growth agenda, with a focus on air access, visas, safety…
25 Aug 12 min

Everything Counts | Episode 54: Protecting property wealth

Property is often seen as one of the more reliable ways to build long-term wealth. It’s tangible, familiar and, for many South Africans, an important part of their financial plan. But investing in property comes with risks that can be easy to overlook, from hidden costs and changing rental yields…
25 Aug 28 min

Macro Monday Ep128: US bond market intervention fails to bring down yields

Moves by the US Treasury to intervene in the bond market failed to bring down yields meaningfully, and the continuing worsening of the US’s fiscal position may explain why. According to Chris Holdsworth, Global Chief Investment Officer, Investec Investment Management, the US’s debt-to-GDP ratio is above 100% and seems set…
24 Aug 4 min

Macro Monday Ep127: The Fed’s difficult position

The US Federal Reserve finds itself in a difficult position. The US economy has been shedding jobs, and wage growth is soft. At the same time, says Chris Holdsworth, Global Chief Investment Officer, Investec Investment Management, government debt continues to grind higher while inflation remains elevated, mainly the result of…
17 Aug 7 min
All episodes