Johannesburg – The South African bond market drifted slightly weaker in quiet afternoon trade despite a firmer rand.
At 3:40‚ the benchmark R186 was trading at 7.230% from a previous close of 7.210%. The R157 was trading at 5.320% from 5.290% previously and the R207 was untraded.
The rand was last bid at R8.4998/$ from R8.5657/$ previously.
“There is not much to say about the market because there is not much activity over the holidays. Some bonds have ticked up or down a basis point or two‚ but that’s on very thin volumes‚” a local bond trader said.
Nominal cumulative volume on Monday was a mere R4bn from R39bn last Friday‚ giving an indication of just how little has been going on in the bond market this week.
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