via US news | The Guardian — Overall, economic sentiment for Trump is poor, but small businesses seem fairly confident, according to several surveys There are 34m small businesses in the United States. They employ approximately half of the country’s workers and generate about half of the country’s GDP. They’re an important voting block. So how are they feeling about the economy as we head into November’s midterm elections? Overall, economic sentiment for Donald Trump is poor but small business – admittedly a diverse demogra

KUALA LUMPUR, March 25 (Bernama) — The ringgit opened higher against the US dollar and other major currencies on Wednesday, as risk sentiment improved following potential ceasefire talks between the United States and Iran. At 8 am, the local currency strengthened to 3.9400/9500 against the greenback from Tuesday’s close of 3.9530/9585. SPI Asset Management managing partner Stephen Innes said the ringgit should begin to skew more positively if the ceasefire narrative extends, as it signals that Washington is shifting from tactical de-escalation toward more serious dialogue with Tehran. He said the key question remains whether Iran will fully engage, as […]

KUALA LUMPUR, March 17 (Bernama) — The ringgit opened higher against the US dollar today, buoyed by improved global sentiment as market participants reacted positively to developments in the oil market. At 8 am, the local currency strengthened to 3.9195/9315 against the greenback, from Monday’s close of 3.9260/9310. Bank Muamalat Malaysia Bhd Chief Economist Mohd Afzanizam Abdul Rashid said the US Dollar Index fell 0.65 per cent to 99.712, while Brent crude declined 2.84 per cent to US$100.21 per barrel. “Measures by the International Energy Agency to withdraw from strategic petroleum reserves, along with calls by US President Donald Trump […]

* Prior -59.5 * Outlook 34.7 vs 39.8 expected * Prior 52.7 ZEW notes that financial market experts are disappointed from the US-EU trade deal, with the outlook worsening in particular for the chemical and pharmaceutical industries. And that's the key reason for the drag in the outlook/economic sentiment index especially. This article was written by Justin Low at investinglive.com.

* Prior -13.6 * Economic confidence 95.2 vs 97.0 expected * Prior 96.3 * Industrial confidence -10.6 vs -10.5 expected * Prior -11.4; revised to -11.0 * Services confidence 2.4 vs 6.7 expected * Prior 6.2; revised to 5.1 Slight delay in the release by the source. Economic sentiment in the euro area declined to its lowest since December last year as services sector sentiment fell profoundly on the month. The outlook remains shaky with Trump tariffs also in consideration. Adding to the concerns is the rise in consumer inflation expectations. The index (as seen below) climbed to 24.4 in March, the highest since November 2022. This article was written by Justin Low at www.forexlive.com.

Investing.com - U.S. stock futures rise, with investors keeping a close eye on incoming earnings and economic data. Netflix’s (NASDAQ:NFLX) earnings top estimates, but shares in the streaming giant slip as analysts flag that its results may not have lived up to sky-high expectations. Elsewhere, a closely-watched consumer sentiment report is due out, while Bitcoin gains after U.S. House lawmakers pass three bills aimed at establishing a clear legal framework for digital assets. 1. Futures higher U.S. stock futures ticked higher on Friday, suggesting an extension to gains posted in the prior session that were fueled by investor optimism around upbeat second-quarter earnings and signs of resilient growth conditions despite lingering tariff uncertainty. By 03:51 ET (07:51 GMT), the Dow futures contract had risen by 64 points, or 0.1%, S&P 500 futures had climbed by 8 points, or 0.1%, and Nasdaq 100 futures had ticked up by 27 points, or 0.1%. The main averages on Wall Street advanced on Thursday, with investors taking their cues from a series of favorable corporate results, as well as executive commentary that analysts have described as encouraging. Economic data this week has also indicated that U.S. economy is picking up some steam, even as inflationary pressures from President Donald Trump’s aggressive trade agenda appear to be mounting. Economists have warned that levies could drive up prices and weigh on economic activity, although some doubts remain over the potential extent of the impact of the tariffs. "[O]ur base case remains that the tariffs ultimately imposed will not cause a recession -- though we expect growth to slow," analysts at Capital Economics said in a note. 2. Netflix earnings Shares in Netflix inched lower in extended hours trading after the streaming giant’s second-quarter earnings and outlook were solid, but failed to live up to heightened analyst expectations. Fueled in large part by the success of the final season of its mega-hit series "Squid Game," Netflix posted quarterly diluted per-share profit of $7.19, above estimates of $7.08, according to LSEG data cited by Reuters. Netflix, which has been pushing to fold in new offerings like live events to bolster viewership and draw in advertisers, also lifted its annual revenue guidance to a range of $44.8 billion to $45.2 billion -- up from $44.5 billion previously. The company noted that the improved forecast was partly underpinned by a recent weakening in the U.S. dollar, which analysts at Vital Knowledge argued was a "low-quality source." Investing.com analyst Thomas Monteiro also said the outlook "now feels quite conservative," adding that this is "problematic for a stock priced for perfection." Netflix’s stock price has surged by more than 43% so far this year, undergirded by hopes that the firm will continue to strengthen its position as one of the most dominant players in the streaming sector. 3. Michigan sentiment report ahead On the economic calendar, investors will likely be keeping tabs on the release of a monthly tracker of consumer sentiment. The gauge from the University of Michigan is tipped to have inched up in July, with inflation expectations holding roughly steady. "We’ll see whether 1-year inflation expectations have continued to drop: they are currently at 5%, though opinions diverge sharply between Democrat (very high) and Republican (very low) responders," analysts at ING said in a note. Friday’s release will come after separate reports this week painted a picture of an American economy that seems to be on solid footing, at least for the moment. On Thursday, retail sales figures were stronger than anticipated and weekly jobless claims came in below forecasts. Inflation also stayed just about in line with expectations in June, although tariffs seem to be pushing the prices of some goods higher. 4. Fed’s Waller on rates With this economic backdrop in mind, the Federal Reserve has largely adopted a "wait-and-see" attitude to future interest rate decisions. However, Fed Governor Christopher Waller said on Thursday that a rate cut as soon as the central bank’s next meeting this month is justified, citing rising risks to the economy. He added that the tariff-induced uptick in inflation will likely not be a persistent feature of the economy, but rather a more temporary bump. "It makes sense to cut" the Federal Open Market Committee’s policy rate by a quarter of a percentage point at the Fed’s July 29-30 gathering, Waller said at an event. The comments come as Fed Chair Jerome Powell has faced intensifying pressure from Trump to quickly slash borrowing costs to help bolster the economy. Powell, who has stressed the Fed’s independence from the White House, has defended a more cautious approach that will allow policymakers to assess the wider effects of Trump’s tariffs. 5. Bitcoin higher after U.S. House passes key crypto bills Bitcoin temporarily rose above $120,000 in Asian trade on Friday, heading for its fourth consecutive weekly gain, as the U.S. House of Representatives cleared three bills aimed at creating a new regulatory framework for cryptocurrencies. The world’s largest cryptocurrency last traded 1.1% higher at $119,583.3 as of 03:52 ET. The token had surged to record highs above $123,000 at the start of the week. But profit taking at record levels and concerns around the final passage of crypto bills tempered gains. One of the bills, known as the the "GENIUS Act," sailed through the House with a bipartisan 308-122 vote. It requires stablecoin issuers to hold high‑quality, dollar‑equivalent reserves and undergo regular audits, while establishing both federal and state supervision Two additional bills also passed the House. The CLARITY Act aims to define whether digital tokens fall under the jurisdiction of the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC). Meanwhile, the Anti-CBDC Surveillance State Act, prohibits the Federal Reserve from issuing a central bank digital currency without explicit approval from Congress. With NFLX making headlines, savvy investors are asking: Is it truly valued fairly? In a market full of overpriced darlings, identifying true value can be challenging. InvestingPro's advanced AI algorithms have analyzed NFLX alongside thousands of other stocks to uncover hidden gems. These undervalued stocks, potentially including NFLX, could offer substantial returns as the market corrects. In 2024 alone, our AI identified several undervalued stocks that later surged by 30 or more. Is NFLX poised for similar growth? Don't miss the opportunity to find out.

Investing.com - U.S. stock futures rise, with investors keeping a close eye on incoming earnings and economic data. Netflix’s (NASDAQ:NFLX) earnings top estimates, but shares in the streaming giant slip as analysts flag that its results may not have lived up to sky-high expectations. Elsewhere, a closely-watched consumer sentiment report is due out, while Bitcoin gains after U.S. House lawmakers pass three bills aimed at establishing a clear legal framework for digital assets. 1. Futures higher U.S. stock futures ticked higher on Friday, suggesting an extension to gains posted in the prior session that were fueled by investor optimism around upbeat second-quarter earnings and signs of resilient growth conditions despite lingering tariff uncertainty. By 03:51 ET (07:51 GMT), the Dow futures contract had risen by 64 points, or 0.1%, S&P 500 futures had climbed by 8 points, or 0.1%, and Nasdaq 100 futures had ticked up by 27 points, or 0.1%. The main averages on Wall Street advanced on Thursday, with investors taking their cues from a series of favorable corporate results, as well as executive commentary that analysts have described as encouraging. Economic data this week has also indicated that U.S. economy is picking up some steam, even as inflationary pressures from President Donald Trump’s aggressive trade agenda appear to be mounting. Economists have warned that levies could drive up prices and weigh on economic activity, although some doubts remain over the potential extent of the impact of the tariffs. "[O]ur base case remains that the tariffs ultimately imposed will not cause a recession -- though we expect growth to slow," analysts at Capital Economics said in a note. 2. Netflix earnings Shares in Netflix inched lower in extended hours trading after the streaming giant’s second-quarter earnings and outlook were solid, but failed to live up to heightened analyst expectations. Fueled in large part by the success of the final season of its mega-hit series "Squid Game," Netflix posted quarterly diluted per-share profit of $7.19, above estimates of $7.08, according to LSEG data cited by Reuters. Netflix, which has been pushing to fold in new offerings like live events to bolster viewership and draw in advertisers, also lifted its annual revenue guidance to a range of $44.8 billion to $45.2 billion -- up from $44.5 billion previously. The company noted that the improved forecast was partly underpinned by a recent weakening in the U.S. dollar, which analysts at Vital Knowledge argued was a "low-quality source." Investing.com analyst Thomas Monteiro also said the outlook "now feels quite conservative," adding that this is "problematic for a stock priced for perfection." Netflix’s stock price has surged by more than 43% so far this year, undergirded by hopes that the firm will continue to strengthen its position as one of the most dominant players in the streaming sector. 3. Michigan sentiment report ahead On the economic calendar, investors will likely be keeping tabs on the release of a monthly tracker of consumer sentiment. The gauge from the University of Michigan is tipped to have inched up in July, with inflation expectations holding roughly steady. "We’ll see whether 1-year inflation expectations have continued to drop: they are currently at 5%, though opinions diverge sharply between Democrat (very high) and Republican (very low) responders," analysts at ING said in a note. Friday’s release will come after separate reports this week painted a picture of an American economy that seems to be on solid footing, at least for the moment. On Thursday, retail sales figures were stronger than anticipated and weekly jobless claims came in below forecasts. Inflation also stayed just about in line with expectations in June, although tariffs seem to be pushing the prices of some goods higher. 4. Fed’s Waller on rates With this economic backdrop in mind, the Federal Reserve has largely adopted a "wait-and-see" attitude to future interest rate decisions. However, Fed Governor Christopher Waller said on Thursday that a rate cut as soon as the central bank’s next meeting this month is justified, citing rising risks to the economy. He added that the tariff-induced uptick in inflation will likely not be a persistent feature of the economy, but rather a more temporary bump. "It makes sense to cut" the Federal Open Market Committee’s policy rate by a quarter of a percentage point at the Fed’s July 29-30 gathering, Waller said at an event. The comments come as Fed Chair Jerome Powell has faced intensifying pressure from Trump to quickly slash borrowing costs to help bolster the economy. Powell, who has stressed the Fed’s independence from the White House, has defended a more cautious approach that will allow policymakers to assess the wider effects of Trump’s tariffs. 5. Bitcoin higher after U.S. House passes key crypto bills Bitcoin temporarily rose above $120,000 in Asian trade on Friday, heading for its fourth consecutive weekly gain, as the U.S. House of Representatives cleared three bills aimed at creating a new regulatory framework for cryptocurrencies. The world’s largest cryptocurrency last traded 1.1% higher at $119,583.3 as of 03:52 ET. The token had surged to record highs above $123,000 at the start of the week. But profit taking at record levels and concerns around the final passage of crypto bills tempered gains. One of the bills, known as the the "GENIUS Act," sailed through the House with a bipartisan 308-122 vote. It requires stablecoin issuers to hold high‑quality, dollar‑equivalent reserves and undergo regular audits, while establishing both federal and state supervision Two additional bills also passed the House. The CLARITY Act aims to define whether digital tokens fall under the jurisdiction of the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC). Meanwhile, the Anti-CBDC Surveillance State Act, prohibits the Federal Reserve from issuing a central bank digital currency without explicit approval from Congress. With NFLX making headlines, savvy investors are asking: Is it truly valued fairly? In a market full of overpriced darlings, identifying true value can be challenging. InvestingPro's advanced AI algorithms have analyzed NFLX alongside thousands of other stocks to uncover hidden gems. These undervalued stocks, potentially including NFLX, could offer substantial returns as the market corrects. In 2024 alone, our AI identified several undervalued stocks that later surged by 30 or more. Is NFLX poised for similar growth? Don't miss the opportunity to find out.

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European stocks rebound as Trump's tariff deadline extension aids sentiment  Reuters

TAV Airports stock sees 12% revenue growth in H1 2025 despite net losses. Learn why long-term Turkish travel demand supports a $38 price target for TAVHY stock.

In the intricate process of budget formulation and the balance between projected revenue, expenditure and borrowing costs are often treated as a precise science. However, beneath this veneer of rationality lies a far more unpredictable force: The psychology of markets. Keynes’s concept of animal spirits reveals that economic decisions are rarely based solely on cold, hard facts – they are driven by instinct, emotion and sometimes irrational exuberance. A country’s budget, therefore, isn’t just a matter of numbers; it’s vulnerable to the whims of investor sentiment and global market psychology. The sentiment around Namibia’s fiscal health has been remarkably positive over the last 18 months as interest rates remained relatively low, the economy saw a boost in economic activity on the back of foreign direct investment and the budget has been successfully executed. EXPECTATIONS AND REALITIES However, this optimism must not be taken for granted. When optimism turns to anxiety or speculative fervour overtakes caution, the cost of borrowing can soar, sending interest expenses spiralling beyond expectations. This psychological turbulence, often lurking just below the surface of fiscal planning, can turn a seemingly stable budget into a financial minefield, where interest payments become the hidden drain on the fiscus. More specifically, a notable opportunity exists for market sentiment to temper investor exuberance, particularly considering several critical factors. A revenue shock – where government revenue falls short of expectations – coupled with the government’s cash-strapped position, can significantly undermine investor confidence. This is further exacerbated by a large local maturity profile, where substantial debt repayments loom on the horizon, creating additional fiscal pressure. Moreover, an ambitious spending plan, if perceived as overly optimistic or unsustainable given current fiscal constraints, can heighten concerns about the government’s ability to meet its financial obligations. These factors can combine to shift market sentiment from optimism to caution, leading investors to reassess risk, demand higher yields and reduce their exposure to government debt, all of which can drive borrowing costs higher than initially projected.  DEFICIT CHALLENGE The Finance Ministry expects the deficit to grow to 4.6% of gross domestic product (GDP) in the 25/26 financial year, resulting in a deficit of N$12.8 billion – N$1.1billion above the mid-year estimate. This has cascaded down and resulted in a downward revision of the primary surplus from N$1.3 billion to N$915 million (to 0.3% of GDP) in 2025/26. Thereafter, the deficit is expected to decrease over the forecast period, moving down to 4% and 3% of GDP in the subsequent financial years. There is a risk associated with the widening deficit, mainly since revenue drivers (South African Customs Union (SACU) receipts and diamond mining related taxes) have come under immense pressure. Furthermore, Namibia’s deficit as a percentage of GDP is expected to print at similar levels to South Africa into 2025/26 although South Africa only expects GDP growth of 2% whereas Namibia expects GDP to grow at 4.5%. This suggests that the government may be pressured into financing the deficit and paying more in interest expenses.   The finance ministry expects interest expenditure to tick up to N$13.7 billion (14.82% of total revenue) in 2025/26. This is an increase of 6.2% and is mainly driven by an anticipated increase in domestic interest payments (N$10.4 billion to N$ 11 billio n). Conversely, the government anticipates its domestic borrowing costs to move down into 2025/26. DOMESTIC FINANCING There is an evident large risk to the upside as the intuitive assumption behind lower interest rates is that either there will be higher levels of demand for local debt after rolling the Eurobonds or Namibian bonds should be considered to hold lower levels of credit and default risk when compared to South Africa. The finance ministry ultimately expects the domestic effective interest rate to move down from 8.53% to 7.98%.  The total debt stock is expected to reach N$172 billion (62% of GDP) in 2025/26 with 85% of the debt stock expected to be local and the rest foreign. The financing requirement has remained in line with expectations amounting to N$6 billion. The sinking fund has been funded with Sacu revenue and local bond issuances to execute on the redemption plan for the Eurobond. The sinking fund has accumulated US$463 million over the years and an additional US$162 million is planned to be allocated this year. That leaves US$125 million worth of domestic issuances expected from the domestic bond market. Therefore, the government is expected to rely largely on domestic issuances to finance the deficit. Domestic financing is expected to amount to N$17.3 billion in 2025/26, the second largest domestic financing requirement in the country’s history, and will present the largest challenge for government finances. Basic economic principles suggest an increase in supply must be matched with demand for interest expense to remain the same – a very ambitious assumption from the ministry to keep interest rates flat or even see them reduce. REVENUE HEADWINDS Finally, the reliance on Sacu receipts is risky given the state of geopolitical challenges and other revenue headwinds related to local diamond revenue. We believe that financing needs will likely surprise to the upside.   In addition, a large amount of debt obligations are due this year and next, and it is likely the government may face fiscal challenges. The government’s latest financial position stands at N$7 billion but the large repayment due in October is expected to significantly reduce their bank balances. In 2021 the first Eurobond payment was executed and as a result the government’s bank balances experienced a sharp negative shock. If the same is to be expected following this year’s Eurobond redemption; lower government balances are to be expected and could force a slowdown in expenditure, which would reduce liquidity in the economy, delay payments to contractors and workers alike, and amplify the broader economic impact.  IN CONCLUSION  American political strategist James Carville famously said: “I used to think that if there was reincarnation, I wanted to come back as the president or the pope or as a .400 baseball hitter. But now I would want to come back as the bond market. You can intimidate everybody.” This highlights the immense power the bond market holds over economies and governments. Carville’s statement reflects the profound influence bond markets have in shaping fiscal policy, economic stability and investor sentiment. In the context of Namibia’s national budget, it will be interesting to understand whether investors have confidence in the government’s ability to execute the budget as promised. A key factor I will be watching over this financial year is the interest rates that bonds are refinanced at.  The upcoming Eurobond repayment and reliance on domestic issuances could strain both liquidity and economic growth. * John-Morgan Bezuidenhoudt, is the portfolio manager: Momentum Investments. The post Namibia’s 2025/26 Budget: Risks, Realities and Market Sentiment appeared first on The Namibian.

In the intricate process of budget formulation and the balance between projected revenue, expenditure and borrowing costs are often treated as a precise science. However, beneath this veneer of rationality lies a far more unpredictable force: The psychology of markets. Keynes’s concept of animal spirits reveals that economic decisions are rarely based solely on cold, hard facts – they are driven by instinct, emotion and sometimes irrational exuberance. A country’s budget, therefore, isn’t just a matter of numbers; it’s vulnerable to the whims of investor sentiment and global market psychology. The sentiment around Namibia’s fiscal health has been remarkably positive over the last 18 months as interest rates remained relatively low, the economy saw a boost in economic activity on the back of foreign direct investment and the budget has been successfully executed. EXPECTATIONS AND REALITIES However, this optimism must not be taken for granted. When optimism turns to anxiety or speculative fervour overtakes caution, the cost of borrowing can soar, sending interest expenses spiralling beyond expectations. This psychological turbulence, often lurking just below the surface of fiscal planning, can turn a seemingly stable budget into a financial minefield, where interest payments become the hidden drain on the fiscus. More specifically, a notable opportunity exists for market sentiment to temper investor exuberance, particularly considering several critical factors. A revenue shock – where government revenue falls short of expectations – coupled with the government’s cash-strapped position, can significantly undermine investor confidence. This is further exacerbated by a large local maturity profile, where substantial debt repayments loom on the horizon, creating additional fiscal pressure. Moreover, an ambitious spending plan, if perceived as overly optimistic or unsustainable given current fiscal constraints, can heighten concerns about the government’s ability to meet its financial obligations. These factors can combine to shift market sentiment from optimism to caution, leading investors to reassess risk, demand higher yields and reduce their exposure to government debt, all of which can drive borrowing costs higher than initially projected.  DEFICIT CHALLENGE The Finance Ministry expects the deficit to grow to 4.6% of gross domestic product (GDP) in the 25/26 financial year, resulting in a deficit of N$12.8 billion – N$1.1billion above the mid-year estimate. This has cascaded down and resulted in a downward revision of the primary surplus from N$1.3 billion to N$915 million (to 0.3% of GDP) in 2025/26. Thereafter, the deficit is expected to decrease over the forecast period, moving down to 4% and 3% of GDP in the subsequent financial years. There is a risk associated with the widening deficit, mainly since revenue drivers (South African Customs Union (SACU) receipts and diamond mining related taxes) have come under immense pressure. Furthermore, Namibia’s deficit as a percentage of GDP is expected to print at similar levels to South Africa into 2025/26 although South Africa only expects GDP growth of 2% whereas Namibia expects GDP to grow at 4.5%. This suggests that the government may be pressured into financing the deficit and paying more in interest expenses.   The finance ministry expects interest expenditure to tick up to N$13.7 billion (14.82% of total revenue) in 2025/26. This is an increase of 6.2% and is mainly driven by an anticipated increase in domestic interest payments (N$10.4 billion to N$ 11 billio n). Conversely, the government anticipates its domestic borrowing costs to move down into 2025/26. DOMESTIC FINANCING There is an evident large risk to the upside as the intuitive assumption behind lower interest rates is that either there will be higher levels of demand for local debt after rolling the Eurobonds or Namibian bonds should be considered to hold lower levels of credit and default risk when compared to South Africa. The finance ministry ultimately expects the domestic effective interest rate to move down from 8.53% to 7.98%.  The total debt stock is expected to reach N$172 billion (62% of GDP) in 2025/26 with 85% of the debt stock expected to be local and the rest foreign. The financing requirement has remained in line with expectations amounting to N$6 billion. The sinking fund has been funded with Sacu revenue and local bond issuances to execute on the redemption plan for the Eurobond. The sinking fund has accumulated US$463 million over the years and an additional US$162 million is planned to be allocated this year. That leaves US$125 million worth of domestic issuances expected from the domestic bond market. Therefore, the government is expected to rely largely on domestic issuances to finance the deficit. Domestic financing is expected to amount to N$17.3 billion in 2025/26, the second largest domestic financing requirement in the country’s history, and will present the largest challenge for government finances. Basic economic principles suggest an increase in supply must be matched with demand for interest expense to remain the same – a very ambitious assumption from the ministry to keep interest rates flat or even see them reduce. REVENUE HEADWINDS Finally, the reliance on Sacu receipts is risky given the state of geopolitical challenges and other revenue headwinds related to local diamond revenue. We believe that financing needs will likely surprise to the upside.   In addition, a large amount of debt obligations are due this year and next, and it is likely the government may face fiscal challenges. The government’s latest financial position stands at N$7 billion but the large repayment due in October is expected to significantly reduce their bank balances. In 2021 the first Eurobond payment was executed and as a result the government’s bank balances experienced a sharp negative shock. If the same is to be expected following this year’s Eurobond redemption; lower government balances are to be expected and could force a slowdown in expenditure, which would reduce liquidity in the economy, delay payments to contractors and workers alike, and amplify the broader economic impact.  IN CONCLUSION  American political strategist James Carville famously said: “I used to think that if there was reincarnation, I wanted to come back as the president or the pope or as a .400 baseball hitter. But now I would want to come back as the bond market. You can intimidate everybody.” This highlights the immense power the bond market holds over economies and governments. Carville’s statement reflects the profound influence bond markets have in shaping fiscal policy, economic stability and investor sentiment. In the context of Namibia’s national budget, it will be interesting to understand whether investors have confidence in the government’s ability to execute the budget as promised. A key factor I will be watching over this financial year is the interest rates that bonds are refinanced at.  The upcoming Eurobond repayment and reliance on domestic issuances could strain both liquidity and economic growth. * John-Morgan Bezuidenhoudt, is the portfolio manager: Momentum Investments. The post Namibia’s 2025/26 Budget: Risks, Realities and Market Sentiment appeared first on The Namibian.