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Bonds firm on stable rand

Jan 02 2013 12:13 I-Net Bridge

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Johannesburg - The South African bond market was firm in thin midday trade on Wednesday on a stable rand.

The National Treasury announced at 11:00 that it will auction R1.1bn worth of R213 bonds and R1bn worth of R2048 bonds in the first weekly auction of the year on January 8.

“We are firmer on the back of a stable rand‚ but apart from that there is little to move the market‚” a local bond dealer said.

At 11:45 the benchmark R186 was trading at 7.250% from a previous close of 7.265%. The R157 was trading at 5.310% from 5.325% previously and the R207 was bid at 6.270% and offered at 6.240% from its previous close of 6.270%.

The rand was last bid at R8.4587/$ from R8.4517 previously.
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