02/06/2026
May 2026 Market & Economic Update | PSG Outeniqua Wealth
Join Ben Vermeulen and Adriaan de Waal as they unpack the key global and local economic events that shaped May 2026. From shifting interest rates to historic upcoming market listings, here is what you need to know:
Local Economy: The South African Reserve Bank announced a 25 basis point increase to the repo rate—the first hike in three years—driven by a rise in inflation. Despite this, we are still seeing positive growth in local sectors like mining, tourism, vehicle sales and transport.
Global Markets: Markets in the US and Europe hit new highs, with the Nasdaq surging by 7% due to strong first-quarter corporate earnings. We also saw massive gains in Taiwan (+11%) and South Korea (+26%), driven by major semiconductor stocks.
Commodities & Currency: While the local JSE moved mostly sideways (+0.7%), gold closed strongly at $4,541. A sharp 29.7% drop in the oil price is expected to bring some welcome relief to local diesel prices, and the Rand remains impressively strong at R16.21 against the US Dollar.
Looking Ahead to June: All eyes are on June 12th as Elon Musk’s SpaceX is expected to list on the stock exchange. At an estimated $1 trillion valuation, it is set to be the largest listing in market history!
Watch the full video to make sense of how these trends impact your portfolio. We look forward to catching up with you again next month!