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A rise of between 1% and 2% on Wall Street in the last five trading days of the old year and the first two trading days of the new year. Santa Clause rallies have been identified going back as far at 1900. The rally is associated with the festive season and the shorter working days in the Northern hemisphere and occurs in about 80% of years. In mid-November 2023 there was strong speculation about the probability of a strong Santa Clause rally on Wall Street as the bond yield declined and US inflation figures were benign indicating that the monetary policy committee (MPC) in the US was unlikely to increase rates further. Obviously, a rally on Wall Street is likely to be followed in most other equity markets worldwide, including the JSE.

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