An ongoing scandal that’s embroiled President Cyril Ramaphosa is taking its toll on the bond market.

Stock markets fell on Tuesday as investors were split between fears that the US Federal Reserve will maintain its aggressive anti-inflation measures and growing optimism over China's economic reopening.

Pension funds and other 'non-bank' financial firms have more than $80 trillion of hidden, off-balance sheet dollar debt in FX swaps, the Bank for International Settlements (BIS) said.

The Organization of Petroleum Exporting Countries and its allies responded to surging volatility and growing market uncertainty by keeping its oil production unchanged.

The JSE slipped a little on Friday morning, but the rand was steady, as markets continue to eye President Cyril Ramaphosa's next move as well as a key US jobs report.

Five years ago, Cyril Ramaphosa’s ascent to power fuelled a euphoric rally in South Africa’s assets that coined a new word: Ramaphoria. A financial scandal threatened to end it all in a rout.

The rand fell about 3% against major currencies on Thursday afternoon, as markets digested the possible resignation of President Cyril Ramaphosa, which could hobble chances of reforms.

The dollar eased from a one-week high on Wednesday ahead of a speech by Federal Reserve Chair Jerome Powell.

Markets mostly rose Wednesday on hopes that China will further ease its strict Covid containment measures following widespread political unrest, though gains were tempered by leaders' warnings of a crackdown on dissent across the country.

Stocks and oil prices rebounded strongly Tuesday, while the haven dollar weakened, on speculation that China would further ease strict Covid measures but investors remain cautious ahead of key US data and speeches later in the week.

BlockFi filed for bankruptcy, the latest crypto firm to collapse in the wake of crypto exchange FTX’s rapid downfall.

The US dollar weakened on Thursday as investors, encouraged by the prospect of a slower pace of interest rate hikes by the Federal Reserve, placed bets on riskier assets.

Roelof Botha, Sequoia Capital's global leader, opened the call, and he and his colleagues were repentant for backing the company, with investments totaling R3.6 billion.

Luno, South Africa's biggest cryptocurrency exchange, is directly linked to companies affected by the collapse of FTX.

US and European stock markets mostly picked up on Friday as investors fished for bargains and shrugged off losses elsewhere, but oil prices dropped over concerns on the world economy.

A British austerity budget hit the pound and gilts on Thursday, with stocks suffering worldwide on the glum economic outlook and the prospect of painfully high interest rates to curb inflation.

Stocks rallied while the dollar slumped against rival currencies after a drop in inflation dimmed expectations of more aggressive Federal Reserve rate hikes.

Seizing on data showing a slowdown in annual consumer price inflation, US equities pushed sharply higher in early trading Thursday.

Cryptocurrency markets nursed heavy losses on Thursday, with bitcoin pinned near a two-year low as investors fretted about the fallout from the implosion of crypto exchange FTX.

Binance, the world's biggest cryptocurrency platform, has agreed to buy its financially-troubled rival FTX.com, according to an announcement Tuesday on Twitter.