Loading...
See More

Bonds firm on bargain hunting

May 30 2013 12:45 I-Net Bridge

Related Articles

Bonds weak despite poor GDP data

Bonds flat after ILB auction

Bonds weak on rand ahead of MPC

Bonds softer on negative sentiment

Bonds weaker on rand‚ wage demands

Bonds softer on weaker rand

 
Johannesburg - South African bonds were a touch firmer in midday trade on Thursday on selective bargain hunting.

“We are seeing some selective buying‚ but volumes are small compared with Wednesday. The uncertainty regarding US Treasury market is currently the main factor keeping investors on the sidelines‚” a local bond trader said.

At 11:36 the benchmark R186 bond was trading at 7.275% from 7.310% at Wednesday’s close and 7.175% at Tuesday’s close.

The R157 was trading at 5.310% from 5.330% at its previous close‚ and the R207 was trading at 6.430% from 6.425% at its previous close.

The rand was bid at R9.8129/$ from Wednesday’s close of R9.8110 and Tuesday’s close of R9.7801.

Dealers said the producer price index (PPI) data released at 11:30 had no effect on the market.

The annual percentage change in the producer price index (PPI) for final manufactured goods was 5.4% in April compared with 5.7% year on year in March‚ Statistics SA (Stats SA) figures showed.

From March to April‚ the PPI for final manufactured goods increased by 0.4%.

Since January‚ Stats SA has published distinct PPIs to cover agriculture‚ mining‚ electricity and water‚ and manufacturing.

The PPI for final manufactured goods is now considered the “headline” PPI.

PPI was expected to have increased 5.7% year on year (y/y)‚ a survey by I-Net Bridge has found.

Forecasts among 11 leading economists surveyed ranged from 5.5% y/y to 6.1% y/y.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

markets bonds
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 
 

BMW drift battle: M235i vs. speedway bike

Watch this insane drift contest with four-times dirt-track World champion Karl Maier riding a speedway bike against a BMW M235i.

 
 

Men24.com

Want to start talking dirty?
Everyday struggles of naturally skinny guys
And this year's Miss Bumbum title goes to...
How to maintain your mo, bro

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...