TreasuryOne Market Data Report Time: 09:47 Date: 2016/03/15 Currencies USD/ZAR EUR/ZAR GBP/ZAR AUD/ZAR EUR/USD ZAR/JPY

Prior Day Closing (2016/03/14) 15.5444 17.2264 22.2427 11.6529 1.1085 7.3205

Current (2016/03/15) 15.6839 17.4257 22.3534 11.7185 1.1111 7.2118

Libor Rates (2016/03/11) 1 Month 2 Month 3 Month 6 Month 12 Month

FRA Rates Interest Rates Safex O/N 1 Month Jibar 3 Month Jibar 6 Month Jibar 12 Month Jibar Repo Rate Prime Rate

Prior Month Closing (2016/02/26) 6.520 6.792 6.992 7.750 8.558 6.750 10.250

Prior Day Closing (2016/03/14) 6.520 6.808 7.033 7.758 8.492 6.750 10.250

3x6 FRA 6x9 FRA 9x12 FRA 12x15 FRA 15x18 FRA 18x21 FRA 21x24 FRA

Swap Rates Gold Gold USD/oz Gold ZAR/oz Gold ZAR/kg

Prior Month Closing (2016/02/26) 1 223.46 19 812.32 636 966.05

Current (2016/03/15) 1 229.51 19 284.26 619 988.89

Gold Forwards Gold 1Y FWD USD/oz Gold 2Y FWD USD/oz

Prior Month Closing (2016/02/26) 1 223.76 1 223.80

Current (2016/03/15) 1 229.92 1 230.02

Gold Forwards Gold 1Y FWD ZAR/oz Gold 2Y FWD ZAR/oz

Prior Month Closing (2016/02/26) 21 301.87 23 025.80

Current (2016/03/15) 20 697.59 22 268.53

R186 R 203 R207

Prior Month Closing (2016/02/26) 9.409 8.336 8.925

Prior Day Closing (2016/03/14) 9.132 8.002 8.619

10 Year Treasury Yields USD EUR JPY

Prior Month Closing (2016/02/26) 1.763 1.399 -0.065

Prior Day Closing (2016/03/14) 1.960 1.551 -0.039

Bond Rates

1Y 2Y 3Y 4Y 5Y 6Y 7Y 8Y 9Y 10Y 12Y 15Y 20Y 25Y

Other Commodities Brent Crude Oil per barrel Uranium per lb Copper per ton Silver Platinum Rhodium Iridium Rhutenium Nickel per ton

USD Libor 0.4362 0.5204 0.6339 0.9055 1.2245

EUR Libor -0.3010 -0.2633 -0.2357 -0.1237 -0.0054

Prior Month Closing (2016/02/26) 7.500 7.710 8.010 8.160 8.310 8.410 8.520

Prior Day Closing (2016/03/14) 7.350 7.530 7.790 7.920 8.070 8.150 8.230

Prior Month Closing (2016/02/26)

EURIBOR -0.3010 -0.2590 -0.2250 -0.1310 -0.0090

Prior Day Closing (2016/03/14)

7.5479 8.0000 8.2500 8.4400 8.5575 8.7400 8.8500 8.9400 9.0100 9.0600 9.1000 9.1200 9.1200 9.0500

7.4178 7.7400 7.9600 8.1650 8.3200 8.4530 8.5630 8.6500 8.7150 8.7600 8.7930 8.7650 8.6700 8.6050

Prior Month Closing (2016/02/26) 35.44 32.00 4 681.00 14.70 914.25 670.00 520.00

Current (2016/03/15) 38.72 28.50 4 994.00 15.31 955.95 700.00 520.00

42.00 8 465.00

42.00 8 574.00

Market Commentary

Despite there being no real releases yesterday and markets which gave indications that trading was to stay quiet gave us quite a show. The fact of the matter is that we did not account for Mr. Pravin Gordhan to deliver such a market-moving statement as he did yesterday. The gist of his statement was regarding the possibility of a credit rating agency downgrade for South Africa and that South Africans must do everything in their power to stop this from happening. This is especially relevant with the with Moody's visiting the national treasury this week and holding talks to ascertain the direction South Africa is moving in. Apart from the rating agencies, the political melee regarding Mr. Gordan and SARS continue to brew in the background, and the Rand sold off yesterday on the market's perspective that the Gordhan-SARS debacle could impact on the reputation of National Treasury. Along with falling oil and commodity prices, which resulting turn in sentiment affected the Rand negatively. With no major data releases out of South Africa today, we can expect the Rand to drift on international sentiment which could see the Rand weaken slightly, but expect subdued trading until the Fed and SARB meeting later this week. On the global front US retail sales gets released later this afternoon and should the numbers reflect a positive change we can see some US dollar strength.

15 March TreasuryOne Market Report.pdf

Page 1 of 1. TreasuryOne Market Data Report. Time: 09:47. Date: 2016/03/15. Libor Rates (2016/03/11) USD Libor EUR Libor EURIBOR. 1 Month 0.4362 ...

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