>> both s&p and moody's put releases out yesterday that indicated this could conceivably lead them totheir rating of the company. >> yeah. >> from a capital allocation standpoint having one stock based on the dividend yield and on the capital appreciation of the core business in terms of the performance from the board of directors point of view, how you allocate capital when you have two distinct classes of shareholders brought up significant concerns for gm's board. they basically told einhorn to go pound sand. >> well, he tried to come up with the complicated way to be able to divide. kind of an iopo. >> he's had this primed since scores -- years ago. >> to me, this was listen, earnings plus buy back plus growth equals higher stock price. growth being the key arbiter. >> you have been frustrated with gm for some time. the multiple remains very low. the yield -- >> it's the lowest pe but david secular trends. secular trends. tesla the bear story ended yesterday. ten centc coming in there they have so much capital they can fund every time elon musk runs out of money. ten cent will bea

we know that s&p and fish are also due to deliver their credit rating. we'll keep a close eye on those developments. moodiesill be releasing its assessment in the next week or so. as i said before, they will definitely be keeping a very close eye on the ramifications f gordhan being fired. nejra: we have seen quite a different reaction across the markets. >> we have seen a signature reaction indeed. we know that the rand has reverse gains and at the start of this year and at the start of this week, in fact, it was among the top three emerging market currencies. it's reversed those gains which has seen the yield on government benchmark bonds also soaring. back banking stocks have tumbled. we have seen markets not reacting very positively to the uncertainty that comes from the -- the intment of markets will be watching very closely. >> thank you. now, for more on the political turmoil in south africa and what it means for the country's financial market and credit rating, we're joined by the head of the economic markets, peter. great to have you. these latest lines coming out from fetch and other ratings agenc