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Bond markets firm despite soft rand

Dec 10 2012 13:46 I-Net Bridge
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Share prices on the Egypt Exchange declined over 10%, after President Mohamed Mursi assumed sweeping powers that sparked clashes and polarised the country's politics. (AFP)

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Johannesburg - The long end of the South African bond market was firmer in quiet midday trade on Monday despite a softer rand.

“The long end is firm as that is where foreigners look to pick up stock‚ but otherwise the market is steady despite the weaker rand‚” a local bond trader said.

At 11.41am‚ the benchmark R186 was trading at 7.330% from 7.350% at Friday’s close and 7.420% at Thursday’s close.
The R157 was trading at 5.460%‚ unchanged from its previous close. The R207 was bid at 6.395% and offered at 6.385%‚ from its previous close of 6.410%.

The rand was bid at R8.6883/$ from Friday’s close of R8.6708 and Thursday’s close of R8.6886.

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