Monthly financial markets outlook | November 2020

The main domestic events for October were the announcements of the Covid-19 economic recovery plan and the Medium-Term Budget Policy Statement by president Ramaphosa and Tito Mboweni respectively. Both policies were broadly okay but fell short of our expectations. Global equities were in the green for most of October but pulled back sharply towards the end of the month on rising coronavirus infections in the northern hemisphere and new widespread restrictions in Europe.