MARKET WRAP: JSE, bonds and rand rally as commodities pause

The JSE snapped a four-day losing streak on Wednesday as markets globally rebounded from steep sell-offs a day earlier even as Russian forces stepped up their bombardment of Ukraine’s capital, Kyiv.

Local bonds and the rand also rallied, with the yield on benchmark R2030 government securities falling 38 basis points to 9.87%. Bond yields move inversely to their prices, meaning that buyers are piling in to SA debt which still offers some of the highest real yields among its emerging-market peers...

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