The JSE tracked firmer global peers on Wednesday as anxiety surrounding the global banking sector eased, in part due to policymakers’ efforts to secure deposits and provide liquidity. However, analysts have warned that concerns about higher rates pushing the global economy into recession are still evident. “Markets continue to show a solid rebound as regulators continue to address fears around the banking sector,” said Matete Thulare, head of forex execution at RMB. “We may be in a mini-banking crisis but for now there seems to be little bad news to absorb, which helps sentiment,” Thulare added. “However, the biggest catalyst lies in Federal Reserve expectations.” The JSE all share gained 0.57% to 76,480.11 points, with industrials adding 0.97% and industrial metals 0.75%. However, banks, precious metals and financials fell 0.42%, 0.33% 0.12% respectively. The top 40 rose 0.6%. Michael Barr, the Federal Reserve’s vice- chair for supervision, on Tuesday blamed the collapse of Silicon Valley Bank on mismanagement rather than financial system vulnerabilities. Barr told a Senate panel that the bank’s executives did a “terrible” job of managing risk before its collapse, as legislators demanded to know why warning signs were missed, Reuters reported. Barr will make another appearance before the House Financial Services Committee later on Wednesday. At 6.55pm, the Dow Jones industrial average was 0.71% firmer at 32,623.3 points, while the S&P 500 was up 1.07%. In Europe, London’s FTSE 100 also added 1.07%, while France’s CAC 40 and Germany's DAX jumped 1.39% and 1.23%, respectively. On the JSE, retail company Steinhoff tumbled as much 25% — the biggest one- day drop since December — after the company said it will ask creditors to approve a restructuring plan that leaves shareholders with nothing. By the close the loss was pared to 24c, an 11% decline. The company’s debt, which includes €10.2bn due at the end of June, exceeds the value of its assets by €3.5bn, essentially rendering it bankrupt. Steinhoff announced late on Tuesday it had a drawn up new restructuring plan in a last- ditch attempt to avoid creditors taking over in June. The plan is similar to one announced in December, except shareholders will walk away with nothing. The rand spent most of the session little changed but by 6.07pm, it had strengthened 0.25% to R18.0905/$, 0.33% to R19.6026/€ and 0.27% to R22.2927/£. The euro was less than 0.1% weaker at $1.0832. Gold eased 0.45% to $1,964.38/oz, but platinum gained 0.94% to $972.04/oz. Brent crude was 0.92% weaker at $77.63 a barrel. 2.Draw a graph and explain the impact of the “mini-banking crisis” on inflation and economic growth.