JSE declines as global rally falters

The JSE was weaker on Wednesday morning, with global peers mixed as a rally sparked by less dovish comments by the US Federal Reserve ran out of steam.

Comments by US Fed vice-chair Philip Jefferson and Fed Bank of Dallas president Lorie Logan that indicated that the recent sell-off in bonds might negate the need for any further interest-rate hikes, were received as dovish by investors. This saw the US bond yields ease from recent highs, supporting risky assets…