MARKET WRAP: JSE ends September lower as the ‘higher-for-longer’ interest rates narrative weighs

The JSE pared losses on Friday, while global markets were mixed as the month of September came to a close. For the month, the local bourse fell 3.37% as the ‘higher-for-longer’ interest rate narrative by the US Federal Reserve weighed on the markets. 

The Fed has hiked interest rates to the highest level since 2001 in a bid to bring inflation down to its 2% target, but that has also hurt the performance of stocks as investors seek more attractive returns elsewhere…