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Rand’s ‘Ramaphosa Rally’ in Doubt [Bloomberg Business News]

CITIGROUP (C)  More Company Research Source: Bloomberg Business News
Last citigroup earnings: 7/13 07:59 am Check Earnings Report
US:NYSE Investor Relations: citigroup.com/citi/investor/pres.htm
PDF By Colleen Goko More stories by Colleen Goko Citigroup, JPMorgan say market has run ahead of itself Others see room for further gains as economy improves Is the party over for the rand? South Africa’s currency reached a three-year high after Cyril Ramaphosa was sworn in as head of state on Feb. 15, fueling optimism among investors that management of South Africa’s economy will improve. Benchmark bond yields fell to levels last seen in 2013, while stocks had their best week in more than eight years. With the rand paring some of its advance this week, traders are divided about whether there’s scope for further gains. Citigroup Inc. thinks the market has run ahead of itself, and took profit on its rand and interest-rate bets this week. JPMorgan Chase & Co. agrees, but is staying put in the absence of any near-term triggers to spark a correction. Societe Generale S [Read more]

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