SocGen in worried about South African bonds, government borrowing, budget deficits and the economy as a whole.
“Volcano Eruption” is the phrase they used. That’s not subtle stuff. A few other analysts quoted in the article and more bullish on the Rand and downplay risks for South Africa. I don’t feel that there is much news-flow that indicates an eruption, but I just don’t know what Cyprus Burning does for investor sentiment.