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Bonds firm after ILB auction

Dec 07 2012 13:26 I-Net Bridge

(Supplied)

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Johannesburg - The South African bond market was firm in quiet midday trade on Friday‚ after the inflation-linked bond (ILB) auction at 11:00.

The National Treasury offered R800m spread between the R212‚ I2038 and I2050 bonds. It allotted R710m worth of R212 bonds after receiving bids worth R1.575bn‚ R50m worth of I2038 bonds from bids of R635m and R40m of I2050 bonds from bids worth R535m.

“The longer end is continuing to rally despite the softer rand as foreigners continue to buy our bonds‚” a local bond trader said.

At 12:07‚ the benchmark R186 was trading at 7.380% from 7.420% at Thursday’s close and 7.495% at Wednesday’s close. The R157 was trading at 5.460% from 5.470% at its previous close. The R207 was bid at 6.420% and offered at 6.390%‚ from its previous close of 6.450%.

The rand was bid at R8.7045/$ from Thursday’s close of R8.6886 and Wednesday’s close of R8.7667. 

Next week will see the last government bond auctions this year with the normal bond auction on December 11 and the ILB auction on December 14. 

Auctions will resume on January 8 with the normal bond auction and on January 11 with the ILB auction.

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