Data provided by iNet BFA
Loading...
See More

Bonds firm on stronger rand

Dec 05 2012 14:27 I-Net Bridge

Related Articles

Rand reacts to rate rumours

Deficit shock: Rand needs to weaken

SA trade gap widens as imports soar

Homes spend more on energy than food

Current account deficit shock for SA

Trade deficit widens to R12.2bn

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

“We have seen some buying this morning‚ but the market is not taking large positions until the current account data is released tomorrow‚” a local bond trader said.

At 11:53‚ the benchmark R186 was trading at 7.565% from Tuesday’s close of 7.580%. The R157 was trading at 5.490% from 5.505% at its previous close. The R207 was bid at 6.505% and offered at 6.485%‚ from its previous close of 6.510%.

The rand was bid at R8.7885/$ from Tuesday’s close of R8.7856 and Monday’s close of R8.8655.

On Thursday the South African Reserve Bank will release its Quarterly Bulletin at 10:00. This will contain the third quarter current account figures as well as government‚ households‚ and corporate expenditure levels.

Economists forecast the current account to have remained in deficit in the third quarter from the 6.4% deficit in the second quarter.

The forecasts are mainly on a deteriorating trade balance‚ which has recorded shortfalls since the beginning of the year.

Official figures released last Friday showed that the trade account recorded a staggering R21.2bn deficit in October.

The National Treasury will auction R1.1bn worth of R213 bonds and R1.1bn worth of R2048 bonds on December 11.

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

bonds  |  current account deficit  |  markets
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

A cash flow crunch often occurs in small businesses trying to balance cash coming in with cash going out. Watch this video to help you improve.
 
 

Passive investment for retirement

The use of passive investment products, like Exchange Traded Funds, to deliver low-cost investment performance is taking off.

 
 

Start saving...

Time the key for retirement saving
Dummy's guide to saving
Save money with affordable account
All about endowments

Money Clinic

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