ISAAH MHLANGA: Local and global indices stumble into the red
The Fed decision to keep interest rates high is weighing on most markets
06 October 2023 - 05:00
Global monetary policy decisions and signals continue to drive asset prices and returns for investors, with the US Federal Reserve’s (Fed) position that interest rates are likely to be higher for longer the biggest factor. SA has concerns about fiscal risks as an added risk driver.
A common saying in finance is “sell in May and go away”, which has been affirmed this year as the returns across major asset classes globally were negative in September. Global equities as measured by the MSCI ACWI, MSCI World and MSCI EM were all in the red in September, delivering -5.5%, -4.4% and -2.8% respectively...
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