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Johannesburg - Bonds were a tad softer from early morning levels at noon on Monday as they continued to track the currency.
The rand was off its intraday best levels as volatility in the currency markets continued.
By noon the short-term government R153 bond was at 9.570% from its previous close of 9.530%. The medium-term R157 was at 9.320% from 9.285% at Friday's close and the long-term R186 was bid at 9.050% from 9.015% before.
The rand was last at R9.9711 per dollar from a previous close of R10.0200, but was earlier bid at R9.7850.
"Volumes on the bond market are not excessive and we are just watching the rand," said a local bond trader.
He added that the S&P futures are currently higher, and if the rand firms further, then bonds are expected to follow suit.
The main focus for the bond market is the medium-term budget policy statement, due to delivered by Finance Minister Trevor Manuel on Tuesday afternoon.
Foreigners were net sellers of R1.063bn worth of bonds on Friday after net sales of R542.283m worth of local bonds on Thursday, Bond Exchange of South Africa statistics show.
Nominal cumulative volume was R60.278bn on Friday from
R117.841bn on Thursday.
- I-Net Bridge