• Road to riches

    Taxpayers keep funding structures with big plans but who knows what efficacy, says Mandi Smallhorne.

  • Don't fall for Ponzi scams

    An expert unpacks the tell-tale signs to watch out for.

  • Inside Labour

    A smokescreen of misleading rhetoric won't make SA's problems go away, says Terry Bell.

See More

Bonds firm on foreign interest

Apr 15 2011 13:41 I-Net Bridge

Related Articles

R157 bonds firm a touch

Bonds firm on foreign interest

Bonds weaker on rand

Bonds few pips softer on rand

Bonds a touch firmer

Bonds firmer on rand

Johannesburg - South African bonds were firmer in midday trade on Friday, which a trader said was on the back of interest from offshore players.

By 11:50, the benchmark R157 bond was trading at 7.730% from its previous close of 7.770%, while the R207 was bid at 8.490%, from its previous close of 8.520. The R186 was bid at 8.745% from its previous close of 8.780%.

The rand was bid at R6.8250 to the dollar from its previous close of R6.8348.

"I believe there was some buying from offshore late last night and we saw the effect this morning with guys trying to get some of their stock back. The interest seems to be in the ultra-long end of the curve around the R186s," a local trader said.

Standard Bank analysts noted in a report that, despite a degree of intra-day volatility, SA's long rates weren't too far removed from their post-auction levels.

However, the analysts noted that the rand remained under pressure, while US treasury yields were lower, as was spot Brent.

"At face value, the pressure for a short-term valuation adjustment is growing - but the immediate breakout direction isn't clear. Nevertheless, over the medium term, a flatter long-end bond curve from current levels doesn't appear sustainable to us," they said.

Foreigners were net buyers of R878.348m of South African bonds including repo transactions on Thursday after net purchases of R832.539m of local bonds on Wednesday, Bond Exchange of South Africa statistics show.

Nominal cumulative volume was R34.824bn on Thursday from R47.622bn on Wednesday.

Foreigners were net buyers of R968.934m of South African bonds excluding repo transactions on Thursday after net purchases of R828.826m of local bonds on Wednesday.

For the year to date, foreigners have been net buyers of R1.477bn worth of local bonds, excluding repo transactions. In 2010 foreigners bought net R57.064bn worth of local bonds, excluding repo transactions.

For the year to date for total transactions, including repo transactions, foreigners have been net sellers of R3.681bn of local bonds. In 2010 they bought net R44.541bn worth of bonds. 
bonds  |  rand  |  markets



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
Add your comment
Comment 0 characters remaining

Company Snapshot

We're talking about:


Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.

Money Clinic

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

Voting Booth

People who fall victim to Ponzi scams are:

Previous results · Suggest a vote