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Bonds firm after ILB auction

Feb 15 2013 13:04 I-Net Bridge

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Johannesburg - The South African bond market was stronger in midday trade on Friday after the inflation linked bond auction saw bids rise to R1.16bn from R1.01bn last week.

The Treasury offered R800m in inflation linked bonds spread across the I2025‚ I2038 and I2050 bonds.

The Treasury allotted R270m of I2025 bonds at a clearing yield of 1.160%‚ R280m of the I2038 bonds at a clearing yield of 1.840% and R250m of I2050 bonds at a clearing yield of 1.950%.

“The auction was marginally better than last week‚ but the we are range bound as investors square positions ahead of the weekend and the G20 statement‚” a local bond trader said.

At 12:02 the benchmark R186 was trading at 7.270% from 7.320% at Thursday’s close and 7.280% at Wednesday’s close. The R157 was trading at 5.340% from 5.350% at its previous close and the R207 was bid at 6.305% and offered at 6.280% from its previous close of 6.305%.

The rand was last bid at R8.8148/$ from R8.7788 at Thursday’s close and R8.8591 at Wednesday’s close.

Dow Jones Newswires reported that the Group of 20 (G20) leading economies will pledge to ensure that their monetary policy actions are focused on price stability and growth‚ rather than weakening their currencies‚ according to the draft of a statement they intend to release on Saturday. 

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