Simon’s weekly wrap: Strong 2025 data underpins 2026 optimism

With the budget dominating the headlines, I spoke to Pooja Tanna of Perpetua Investment Managers about the bond market’s reaction. She notes that lower long-term debt and a primary surplus mean reduced issuance, which should place further downward pressure on yields — already at their lowest levels since 2015.

You can also listen to this podcast on iono.fm here.

I spoke with Aroni Chaudhuri of Coface Africa about the rand’s recent strength. He believes it can persist, as the underlying drivers remain intact. While a firmer currency supports government finances and much of corporate South Africa, exporters are feeling the squeeze.

You can also listen to this podcast on iono.fm here.

I chatted with Sylvester Kobo, deputy head of fixed income at STANLIB Asset Management, on SOE bonds and how they’ve been doing recently. After many years of wide spreads and little investor appetite, things are improving, which is helping drive lower yields. I also asked where he sees good value for an income investor in the current environment.

You can also listen to this podcast on iono.fm here.

I spoke with Jason Swartz of Old Mutual Investment Group about the strong 2025 data and asked how this feeds into the current year. He’s optimistic that current trends will continue and believes most fears right now are more noise than significant threats.

You can also listen to this podcast on iono.fm here.