Business & Tech News
Japan’s Government Bond Surges
Japan’s 10-year government bond yield saw a surge of almost 1.6% this morning, reaching its best level in more than 16 years. The growth was driven by investors’ confidence that the Bank of Japan will continue raising interest rates this year. Last week, BOJ Deputy Governor Shinichi Uchida indicated that the BOJ is likely to hike rates further if economic forecasts align with expectations. The announcement emphasizing that Japan’s exit from ultra-loose monetary policy is only beginning. Uchida also highlighted that monetary conditions remain highly accommodative, with the BOJ’s reduction in JGB holdings still limited. Meanwhile, recent data showed that Japan posted a current account deficit in January for the first time in two years, as imports outpaced exports. Additionally, inflation-adjusted real wages—a key measure of consumer purchasing power—fell 1.8% year-on-year, marking the first decline in three months.
China Unveils Super Quantum Computer
The University of Science and Technology in China, has revealed a 105-qubit superconducting quantum processor named Zuchongzhi-3. The processor is believed to have shown processing speeds 10x that of the current fastest quantum supercomputers in the world. Zuchongzhi-3’s capabilities were showcased through an 83-qubit, 32-layer random quantum circuit sampling task indicating its advanced computing ability and speed.
Egyptian Inflation Down
In good news for the Egyptian economy, the annual urban inflation rate in the northern African state eased significantly for the fourth consecutive month to 12.8% in February 2025 from 24% in the previous month, marking the lowest inflation level recorded in over 3 years. The last recorded inflation at this level being March 2022. The inflation was also markedly below market expectations of 14.5%. On a monthly basis, consumer prices increased 1.5% in February 2025, easing slightly from a 1.5% rise in January, which was the highest level in four months.
Dollar Down over Trade Doubts:
The dollar index has remained at a four-month low below 104 points this morning after seeing a drop of over -3% last week. The dollar has been pressured by growing uncertainties and US economic concerns. Yesterday (9 March), US President Donald Trump described the economy as undergoing “a period of transition” during a Fox News interview, when asked about the risk of a recession. His remarks came as financial markets grappled with an escalating global trade war, following new US tariffs on Mexico, Canada, and China. Meanwhile, Friday’s jobs report added to the uncertainty, showing that the US economy added 151K jobs in February, slightly below forecasts of 160K. The unemployment rate unexpectedly edged up to 4.1%, while wage growth softened to 0.3%.
Looking at a 5-year time-frame however, puts the dollar currency into perspective with the dollar still sitting above the mean for the period by almost 4 points.
Markets by Numbers
Currencies:
Currency markets are indicating flat trading dollar, with the US Dollar currently at 1.08071 against the Euro, and at 1.28746 against the Pound, and at 147.16 Yen to the dollar currently. The rand has lost some ground to the Dollar, and is trading at R18.33 against the dollar currently.
Commodities:
- Gold prices have seen a drop in demand as a safe haven investment driving prices lower below the $2900 level, and trading at $2,897.88 currently.
- Copper is trading over -1% lower, and at 4.6268 currently.
- Silver has traded over -0,5% lower this morning, and at 32.342 currently.
- Platinum prices are at $965.80 currently, while Palladium prices are currently trading at $943.00
- Brent Crude Oil prices have moved slightly upwards and is trading at $70.38 currently, with WTI also trading higher at $67.03.52 currently.
- Cocoa futures have seen a slight improvement this morning, with prices currently at $8057 per ton.
- Coffee prices have dropped below the $400 mark, and trading at $392.50 currently.
Crypto Currencies:
- Bitcoin is currently trading at $81629.
- Ether prices are currently trading at $2071 .
- $Trumpcoin has seen downward movement today, and currently trading at $11.02
(All prices quoted at approximately 11H00 – Central African Time)
Other News in Africa Today
Congo Clashes Continue:
While the US has offered a deal for minerals for US support to the government of Congo against the M23 rebel insurgents, fighting between the rebels and pro-Congo militias was taking place in Nyabiondo, about 100 km north of the key city of Goma yesterday (9 March). The eastern Congo area has been the centre of rebel operations in the past few months, and residents have reported high numbers of civilian casualties.
The Rwanda-backed rebel group M23 has seized a large area of mineral-rich eastern Congo since the beginning of 2025. According to reports from local authorities the M23 has now taken Nyabiondo following clashes with local force. The fighting follows clashes last week between M23 and a pro-Congolese government militia in the village of Tambi, about 18 km northeast of the town of Masisi, which culminated in an attack overnight on March 5 leaving many civilian casualties, according to the head of a local NGO.
