macroafricaintel Daily Brief | 20 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets
• Biden says he has picked a Treasury secretary who will please all Democrats [Yellen, perhaps?]
• Japan aims to expand CPTPP trade pact as UK, China eye membership
• Stocks wobble after Mnuchin pulls plug on Fed stimulus
• Oil prices little changed, on track for third straight weekly gain
• Brent up 0.1% at $44.25, WTI unchanged at $41.90 (0505GMT)
• Gold dips as Mnuchin recalls pandemic-related funds
• Spot gold down 0.2% at $1,864.54/oz., futures up 0.1% at $1,863.80 (0359GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• AfCFTA council of ministers meet
• S&P reviews South Africa credit rating [negative outlook from stable expected]
• South Africa’s Ramaphosa participates in G20 virtual summit (21-22 Nov)
• Bank of Ghana MPC meets (18-23 Nov) [fcst. 14.5%, prev. 14.5%]
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Ethiopia’s Tigray rebels fire rockets into city, region govt says
• Sierra Leone considering a warrant for the arrest of former president
• WHO’s Tedros denies taking sides in Ethiopia conflict
• Ethiopia rebel forces say air strike has injured many university
students in Tigray
• Rebel leader says capital of Ethiopia’s Tigray region bombed
• As new debt crisis looms, Africa needs more than world is offering
• Nigeria should sanction CNN for report on shooting of protesters – minister
• Troops move to quell protests over Bobi Wine, 16 killed
• Ethiopia moves on Tigray capital, castigates WHO boss Tedros
• Judge rejects Zuma request to step down in South Africa graft inquiry
• Stop Ethiopia war and help civilians, Biden team urges
• Zambia seeks ‘win-win’ deal with bondholders after default, says minister
• As covid toll among Kenya doctors jumps, one widow shares her grief
• Three South Africa players isolated after one tests covid-19 positive
• South Africa retailer Pick n Pay launches mobile phone service
• A group of villagers, a migrant boat and a deadly end in Senegal
• South Africa investment conference attracts $7 bln in new pledges
• De Beers diamond sales rise as demand recovers from covid-19 hit
• Three dead and 34 injured in protests against arrest of Uganda’s Bobi Wine
• UN says more than 14,500 have fled Ethiopia to Sudan
• Ethiopia govt says rebels have committed ‘atrocities’ during 2-wk
Tigray conflict
• Outside Somalia’s Mogadishu, locusts turn farmland into desert

Bloomberg
• South Africa may edge to deeper junk rating if S&P cuts outlook
• Hershey is behind the big cocoa trade that upended N.Y. markets
• Ghana blasts ethical cocoa programs and firms refusing to pay up
• Nigeria denies CNN report saying army killed protesters
• Ethiopia army is closing in on Tigray capital, minister says
• South Africa central bank holds rate and signals next move is up
• First vaccine to be made in South Africa since mid-1990s
• Ethiopia army accuses WHO chief of backing dissident region
• Africa has only 20% of financing for energy-deficient nations
• Top South Africa banks split on dividends after Investec payout
• Libya says Total mulls more investment in nation’s oil fields
• Tanzania places China Commercial Bank under administration
• Zuma fails to win recusal of South Africa judge probing graft
• Mozambique open to support in fighting militants, Lusa says
• South Africa can avoid debt crisis, President Ramaphosa says
• Biovac, Sanofi Pasteur to make pediatric vaccine in South Africa
• Africa’s biggest bank says Ramaphosa winning corruption battle
• Absa South Africa rules out dividends with profit down 40%
• Nissan follows Volkswagen in starting car assembly in Ghana
• Ethiopia prime minister trades his Nobel peace prize for civil war
• Uganda to start building oil export pipeline in first half 2021
• Absence may make eurobond investors fonder of African issuers

N.B. Full stories of above headlines are available on Reuters & Bloomberg

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