The JSE closed at another record high on Wednesday, tracking firmer global markets as US treasury secretary nominee Janet Yellen advocated for a large fiscal relief package to help the US economy deal with the effects of the Covid-19 pandemic.

At her confirmation hearing for the position on Tuesday, Yellen endorsed US President Joe Biden’s higher aid spending, saying that the benefits of a big stimulus package were greater than the expenses of a higher debt burden. She called on the government to “act big” on a Covid-19 economic relief package, which helped lift markets...

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