MARKET WRAP: JSE caught up in global risk-on high

The JSE tracked firmer global markets on Friday after jobless claims in the US came in better than expected while inflation there accelerated at a faster pace than anticipated.

The US Federal Reserve’s preferred measure of consumer inflation came in at 3.1% in April, far higher than the Fed’s long-term goal of 2%. While most analysts believe the higher inflation is only temporary as more markets open up across the globe, there are some concerns that the Fed may have to scale back its bond purchases and could raise interest rates sooner than originally thought. ..