South African Markets Rally on Fed, SARB Amid Political Turmoil

Updated on
  • Bonds gain most since December as stocks at 4-month high
  • Rand rallies second day as Zuma battles to save presidency

South African bonds surged the most since December, a benchmark stock index climbed to a four-month high and the rand rallied for a second day as the Federal Reserve’s dovish turn boosted global markets while investors speculated President Jacob Zuma’s grip on power is loosening.

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