Markets & News • Morning briefing

Financial markets briefing: 9 November 2026 — Morning briefing

Research cutoff: 9 November 2026, 08:00 CAT (06:00 UTC). Coverage includes RBZ rates dated 6 November, South African September electricity statistics released 5 November, US October employment released 6 November, Friday market closes and Monday early-session reporting. Prices are dated observations, not live or executable quotations. Original analysis and hypothetical examples are labelled.

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The analyst’s vocabulary

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Basis point

One hundredth of a percentage point. A move of 25 basis points equals 0.25 percentage points.

Market breadth

How widely a market move is shared across its constituent securities.

Term premium

Additional compensation investors require for holding longer-maturity debt rather than rolling over short-term debt.

ROIC

Return on invested capital: operating returns relative to the capital committed to the business. Definitions should be checked when comparing companies.

WACC

Weighted average cost of capital: the blended required return of debt and equity funding.

Real return

A return adjusted for inflation over the same period and in a consistent currency.

Cash-conversion cycle

The time cash is tied up in inventory and customer receivables after allowing for supplier payment terms.

Exchange-rate pass-through

The extent to which exchange-rate changes affect domestic prices.

Base effect

The influence of the earlier comparison period on a reported rate of change.

Liquidity

The ability to obtain cash or trade an asset without undue delay or a large adverse price impact.

Rebasing

Updating the reference basis and measurement framework of a statistical series; it does not itself create new production.

Second-round effects

Broader responses in wages, pricing or expectations following an initial shock.

Read with care

Coverage and limits.

Original commentary. Transparent sources.

AI-assisted research and educational analysis published by Money with Elisha. Reported facts are distinguished from interpretation. No affiliation with Bloomberg, Reuters or other cited publishers is implied. Quotes and prices are dated; this is not a trading terminal.

No verified current ZSE/VFEX closing table is included in this edition. We do not fill missing data with estimates. A forecast, scenario or analytical interpretation is not a guaranteed outcome.

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