MARKET WRAP: JSE and rand rally on dovish comments by Fed officials
The mood in the markets has been cautious in recent days as the ‘higher-for-longer’ interest rate narrative dominated
10 October 2023 – 19:28
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The JSE rose the most since November on Tuesday, with the rand firmer as dovish comments from Federal Reserve officials boosted sentiment.
US Fed vice-chair Philip Jefferson said on Monday the central bank was in a position to “proceed carefully” after a recent rise in treasury yields, while Fed Bank of Dallas president Lorie Logan said the recent surge in long-term US bond rates may mean there is less need to tighten again, reported Bloomberg…
Source: businesslive.co.za