START YOUR MORNING BY LISTENING TO TODAY’SÂ BIZNEWS BREAKFAST BRIEFING – US inflation hits 9.1%, markets shudder then recover; Msimang on why Cyril must go; Afriforum crime-fighting force.
Catch up with the latest on BizNews.com
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- Kusile corrupt chips start to fall
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Glimmers of hope that the worst for investment markets is behind us
Over half of all the world’s investible equities are housed on Wall Street. So investment markets everywhere take their cue from what happens in that famous stretch of Downtown Manhattan.
The US market has had a torrid 2022 – its worst in over half a century. Something which has set the tone for investments everywhere, including SA.
Reason: Americans are fretting about rising inflation, and how this will force its central bank into raising interest rates and perhaps pushing its buoyant economy into recession. It’s a tricky act for the Fed to raise rates just enough to cool price increases, with no guarantee of achieving a Goldilocks (not too hot, not too cold).
However, the first evidence emerged last night that the Fed may just pull it off – and June’s 30 year high inflation rate of 9.1% may be the peak. If so, sentiment would quickly change and battered US shares begin to lift their heads again. Ditto those elsewhere, including SA. More detail in this morning’s BBB (click here to listen).
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