MARKET WRAP: JSE firmer on US interest rates hopes
Momentum is building that the Fed may be done with hikes for now, though chair Jerome Powell’s speech in Washington is eagerly awaited for further clues
08 November 2023 – 18:52
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The JSE closed firmer, as stock markets staged a rebound despite cautious comments from Federal Reserve officials on US interest rates.
According to Bloomberg, the strong gains come amid excitement about the possible end of the Fed’s hiking cycle after the central bank kept interest rates steady at the 5.25%-5.50% range after last week’s policy meeting. In response, US treasury yields fell back from 16-year highs on Wednesday…
Source: businesslive.co.za