Market Standard 12 October 2020

Offshore

/ The Congressional Budget Office estimates that, for the 2020 fiscal year, the U.S. deficit will be $3.13 trillion (15.2% of GDP). This number would cause the total U.S. national debt to come in at 102% of GDP in 2020, the first time since 1946 that the U.S. debt has been larger than its economy.

/ A new stimulus package on or off the table?

/ The U.K. economy grew by 2.1% in August, less than half the pace anticipated

/ JPMorgan says U.S. Capital Gains Tax hike (proposed by Biden) may briefly hit stocks

/ Robinhood says some customer accounts may have become the target of hackers

/ New iPhones expected on Tuesday, with 5G

Local
/ President Cyril Ramaphosa will address both houses of parliament on Thursday to unveil the long-awaited economic recovery plan for the country.

/ PPC results

/ Canal+ buys 6.5% in Multichoice

/ Spur update, strong recovery but early days.

/ FNB lists 20 ETNs over US-listed stocks.

/ Balwin results and the scuffle around Mooikloof