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Johannesburg - South African bonds were a bit
firmer in midday play on Tuesday, after a "very well-bid" weekly
government auction.
The National Treasury received bids totalling R3.02bn
for R700m worth of R203 bonds at a clearing yield of 7.120%,
R2.58bn for R700m worth of R186 bonds at a clearing yield
of 8.105% and R1.76bn for R700m worth of R214 bonds at a
clearing yield of 8.620%.
At 11:50, the benchmark R157 bond was bid at 6.485% and
offered at 6.470%, from its previous close of 6.500%. The R207 was bid
at 7.670% and offered at 7.640% from a previous close of 7.690% and the
R186 was trading at 8.105% from its close of 8.150%.
The rand was bid at 7.5571 against the dollar from its previous close of 7.5469.
"It was a very good auction. There is definitely demand out
there - there were a few guys who bid and didn't get stock.
"There was really good demand for the R203s. The curve is well-bid; it has flattened quite a bit," a trader said.
Foreigners were net buyers of R1.746bn of South African
bonds including repo transactions on Monday after net purchases of
R808.373m of local bonds on Friday, data released by the JSE
shows.
Nominal cumulative volume was R70.545bn on Monday from R69.922bn on Friday.
Foreigners were net buyers of R1.745bn of South African
bonds excluding repo transactions on Monday after net purchases of
R808.069m of local bonds on Friday.
For the year to date foreigners have been net buyers of R9.102bn of local bonds, excluding repo transactions. In 2011 they were
net buyers of R47.359bn worth of local bonds, excluding repo
transactions.
In the year to date foreigners have been net buyers of R8.271bn of local bonds including repo transactions. In 2011 they bought
R37.501bn of local bonds.