MARKET WRAP: JSE weakens as investors adjust to strong US data
Bond yields resume upward trajectory on hotter than expected retail sales, strengthening higher for longer rates narrative
17 October 2023 – 19:28
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The JSE closed weaker on Tuesday as US Treasury yields rose once more and the earnings season in the world’s biggest economy gained momentum.
Bond yields reached their highest levels in 16 years after US September retail sales came in hotter than expected. Bonds have pressured the broader market in recent weeks as investors deal with the “higher-for-longer” interest rates narrative by the Federal Reserve…
Source: businesslive.co.za
