NSE20 closed at 2013. Badly needed relief rally. NFP was a 700,000 job loss which beat estimates of 100,000 loss seven fold, but given the jobless claims yesterday it isn't much of a surprise. April will be much worse.

https://www.cma.or.ke/in...s-center&Itemid=207

CMA/NSE being pragmatic...or are they indirectly looking out for their own interests

Yes April will be a catastrophe.In the last 2 weeks over 10 million Americans filed for unemployment claims.Its expected every week the numbers will be higher so April's non farm payroll report maybe in the millions.

What about in Kenya where the mass poor who are and will be out of work in the coming weeks?Since we dont have a similar unemployment claims scheme like Western countries,what will happen to our poor folks?Not that the West is rich enough to pay off unemployed citizens.Their central banks are just printing money for these bailouts.Should Opus Dei do the same?

@Ericsson.Exactly.If we start mass printing money like the first world nations we become Zimbabwe.Developed nations can do it and have been doing it since 2008 GFC and so far have been getting away with it due to strong demand of their currencies and people assume there is no alternative to using their currencies especially the US dollar.Inevitably the first world money printing madness will come to bite them also.When that will happen I dont know but it seems we are getting closer

Opus Dei and his team are begging IMF and World Bank for $$,€€ and Yen.
The problem is we are a majorly importing nation so we need more hard currencies.
Scales can be tilted if we manufacture critical items needed to fight Corona like masks,PPEs and they are in short supply in the western countries

It is time for GoK to live within its means. Kenyans need to learn to live without imported apples, grapes, Mercedes cars and 8K TVs.

Forex regulation could be the next move if we don t tame our appetite for imports and price hike on commodities. Currently a tray of eggs is trading at ksh 450 since no eggs are coming from UG.

Opus Dei should instead beg Jerome Powell of the Fed to setup a currency swap line in the same manner as other major central banks who are allies with the US have done.I highlighted these swap lines in an earlier post.Essentially other central banks in Japan,Europe,Canada,Mexico etc are printing their own currency and exchanging it with Fed's newly printed USD.So CBK just creates new KES and exchanges it with US dollars.Unfortunately we are too small a player to join that swap club so we have to beg for loans.Short term swap lines are lessening the bleeding but all this money printing will have disastrous consequences later.Let Kenya remain just the way we are not joining the money printing shenanigans club and suffer short term pain for long term gain

Pump and dump.
When the USA economic data is released on Friday,markets will tumble further.