SSA Market Commentary

SSA markets opened tilted towards the down side. The Bank of Japan surprise hawkish rise in interest rates has sent the yen higher and risk markets across the globe lower. The US 10-year yield rises to 3.70%, an indication of risk off sentiment. The EMTA finally confirmed that GHANA can be traded flat of accrued interest after the Ministry of Finance suspends coupon payments on it $13 Billion of Eurobond debt stock. CHINA COVID deaths continue to be a big threat to global markets as the spread and number of deaths seem to be understated.