RAMPANT RAND: SA markets rally as risk outlook improves markedly, but fundamentals remain lacking 

The JSE has been scaling record peaks this week while the rand’s rally has taken it to close to two-year highs. This is a reflection of global sentiment in the wake of the US rate cut and lingering optimism over the government of national unity. Domestic economic fundamentals remain shaky, but the high risks that were priced into SA markets are dissipating.