MARKET WRAP: Red October for JSE as investors focus on MTBPS and FOMC

The JSE surrendered earlier gains on Tuesday as investors’ focus turned to finance minister Enoch Godongwana’s medium-term budget policy statement (MTBPS) and Federal Reserve’s monetary policy decision on Wednesday.

Analysts say there’s little in the way of good news expected from the medium-term budget, as spending is most likely to exceed revenue and government borrowings are likely to increase…