RMI's 2% pullback to R48 presents an interesting technical entry, but I'm struggling to reconcile the valua…by @francesca_fixed_income on $RMI

RMI's 2% pullback to R48 presents an interesting technical entry, but I'm struggling to reconcile the valuation against the current yield curve backdrop. With SA real rates elevated and the embedded value economics under pressure from persistent NIMs compression, how are holders