MARKET WRAP: JSE firms as investors cast fears aside
Local market follows its European and US peers, shrugging off concerns about sustained inflation, supply-chain breakdowns and the US approaching its debt limit
The JSE closed firmer on Wednesday, tracking European and US markets that cast aside fears of sustained inflation, supply-chain breakdowns and the US approaching its debt limit.
Speaking at the US Senate banking committee hearing in Washington on Tuesday, Federal Reserve chair Jerome Powell said inflation was now more of a concern than it had been earlier in 2021. Speaking alongside treasury secretary Janet Yellen, Powell said the test for raising rates was higher, and that even though bond purchases would be tapered, they would continue until mid-2022...