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Bonds a tad softer in thin trade

Dec 27 2012 16:47 I-Net Bridge
Rands

(File) (Shutterstock)

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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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