The rand tumbled to a seven-week low following the announcement that asset management company Futuregrowth suspended loans to six state-owned enterprises.
Roodt says it depends on how one defines a recession.
"In my books, an economy that grows below its population growth, has increasing levels of unemployment and poverty points to recession. If that is the case then we have been in recession for quite some time."
Government bonds were also firmer, with the yield on the benchmark 2026 paper down 4 basis points to 9.005 percent.
On the bourse, the benchmark Top-40 index dropped 0.2% at 46,168 points while the All-Share index dipped 0.19% to 52,631 points as investors fretted over the brewing political storm.
On the bourse, the benchmark Top-40 index dropped 0.2% at 46,168 points while the All-Share index dipped 0.19% to 52,631 points as investors fretted over the brewing political storm.
