India Manufacturing Growth Hits Seven-Month High in September 
Gold Steady as Softer U.S. Inflation Eases Fed Rate Hike Bets 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Gold Prices Steady as Markets Await U.S. Jobs Data 
Australia Trade Surplus Shrinks Sharply as Imports Surge 
Oil Prices Slide as Middle East Flows Recover 
Dollar Eases Near Two-Month High as Yen Rebounds 
Asian Currencies Mixed as Yen Slides on BOJ Rate Signals 
US Treasury Bond Buybacks Fall Short Despite Expanded $6 Billion Cap 
Asian Stocks Rise as Bond Yields Ease Ahead of U.S. Inflation Data 
Wall Street Edges Higher as Treasury Yields Retreat 
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South Africa has been downgraded to junk status by Standard & Poor’s following last week's Cabinet reshuffle which saw Finance Minister Pravin Gordhan axed. S&P on Monday cited political uncertainty as one of the reasons for the downgrade.
Ratings agency Moody's has placed South Africa on review for a downgrade, said it is assessing the economic impact of the changes to leadership in key government institutions and it is expected to announce its rating on Friday. A third ratings agency, Fitch is yet to announce its decision.
South Africa’s banking index fell to the lowest in six months after S&P's downgrade. Short-term volatility in bank stocks is likely to continue. The rating cut increases the likelihood that lenders will have to battle declining returns and rising bad debts in the year ahead.
Zuma’s decision to boot his finance minister and load his cabinet with loyalists has drawn public criticism. A wider group of ANC leaders will meet Tuesday to discuss the cabinet reshuffle, while opposition parties are pushing for a vote of no-confidence in parliament.
