Global debt levels raise red flags
champagne corks popped towards the end of 2019 as US equity markets notched up another sterling year, with the S&P 500 gaining 28%. The MSCI World Index ended the year 24% higher, with local investors also benefitting from the weaker rand. In contrast, the JSE All Share Index rose only 10% for the year.
The US Federal Reserve was seemingly vindicated with its stance to halt further interest rate cuts, supported by a strong US economy. Jobs data in the form of
