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Johannesburg- The South African bond market consolidated at firmer levels in midday trade on Friday after a decent inflation-linked bond (ILB) auction at 11:00.
“We are consolidating after the ILB auction as that cleared at market levels‚” a local bond trader said.
At 11:31 the benchmark R186 bond was trading at 8.165% from 8.260% at Thursday’s close. The R157 was trading at 6.400% from 6.455% previously and the R207 was trading at 7.570% from 7.650% at its previous close.
The rand was bid at R10.2167/$ from R10.2181 at Thursday’s close.
The National Treasury offered R800m worth of ILBs spread across the I2025‚ I2038 and I2050 bonds and allotted R180m worth of I2025 bonds at a clearing yield of 1.800%‚ R160m worth of I2038 bonds at a clearing yield of 2.450% and R460m worth of I2050 bonds at a clearing yield of 2.625%. It received bids worth R210m‚ R500m and R985m respectively.
Last week the Treasury allotted R255m worth of I2025 bonds at a clearing yield of 1.450%‚ R305m worth of I2038 bonds at a clearing yield of 2.200% and R240m worth of I2050 bonds at a clearing yield of 2.330%. It received bids worth R885m‚ R760m and R605m respectively.
