Monthly Update
January delivered a mix of confidence and calm across local and global markets, setting a constructive tone for the year ahead.
Locally, South Africa showed encouraging signs of strength. Resource counters continued their impressive momentum, returning over 130% over the past 12 months, while the rand strengthened toward R16. The South African Reserve Bank kept interest rates unchanged, providing stability for consumers, businesses and investors alike.
Offshore, the US economy showed resilience, with unemployment falling to 4.4%. Meanwhile, President Donald Trump’s nomination of Kevin Warsh as Chair of the Federal Reserve signals a potential shift in monetary policy — an important factor for global markets.
Through disciplined strategy and opportunity-focused positioning, Salvo Capital remains committed to long-term value creation, helping clients navigate markets with clarity and confidence.
👉 Read more in our Monthly Market & Fund Update.
Summary – January ’26
