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The most pivotal South African election in decades is already turning the tide of the country’s financial markets.

(Bloomberg) -- The most pivotal South African election in decades is already turning the tide of the country’s financial markets.Most Read from BloombergIran State TV Says ‘No Sign of Life’ at Helicopter Crash SiteEbrahim Raisi, Iranian President Confronting West, Dies at 63Speedier Wall Street Trades Are Putting Global Finance On EdgeSaudi Crown Prince Postpones Japan Trip Over King’s HealthChina’s Housing Rescue Too Small to End Crisis, Analysts SayMoney has been pouring into the country on a

The most pivotal South African election in decades is already turning the tide of the country’s financial markets. Money has been pouring into the country on a bet that the African National Congress (ANC) will win enough of the vote to avoid being forced by left-leaning coalition partners to implement less market-friendly policies. South African bonds absorbed the most cash in April since Bloomberg started tracking the data in 2019, and the trend is continuing in May. Stocks are at a 15-month high. The rand is one of only five emerging-market currencies to strengthen this year.

Disinflation and high yields are attractive, says Goldman Sachs.

Emerging-market currencies closed out their best year since 2017 after soaring in the final quarter as the outlook for lower interest rates in the US revived investor appetite for risk