MARKET WRAP: JSE falls amid growing global inflation fears
Local bourse tracks global equity markets lower, extending retreat from record high, as investors fret about future inflation trajectory
The JSE fell for a second day and the rand was little changed amid growing concerns that rising bond yields could be a sign that unprecedented monetary stimulus in the wake of Covid-19 could spur inflation across the globe.
The all share index extended its retreat from a record-high, tracking major bourses lower, as US treasury yields climbed above 1.31%, raising speculation that rising borrowing costs could stifle a recovery in the world’s biggest economy. Equity markets around the world continued to trade lower after a report showed initial jobless claims in the US rose to 861,000 in the week ended February 13, an increase of 13,000 from the week prior...