Animal Spirits

Omicron, inflation, China’s debt fuelled property house of cards, investors seemingly fear none of these as markets are staging a nice little Santa Claus rally into year end. The JSE reached a record high on Tuesday tracking the rally in global markets as concerns about the Omicron variant of Covid-19 eased. The JSE all share gained more than 2% — the most since March — as early indications suggest that the latest strain of the virus isn’t as severe as initially feared. Michael Avery talks to Chris Holdsworth, chief investment strategist at Investec Wealth and Investment