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On August 2‚ the Treasury switched only R1.065bn and the highest yield allotted was 7.410% and the lowest yield allotted was 7.390%.
On Thursday the National Treasury switched R2.08bn after receiving bids worth R3.285bn with the highest yield allotted 7.510% and the lowest yield allotted being 7.450%.
“The switch auction was a surprise. I guess Treasury was not as picky as they were last time‚ which means that I think they will see more interest next time around‚” a local bond trader said.
At noon‚ the benchmark R157 bond was trading at 5.435% from 5.510% late on Wednesday. The R207 was bid at 6.545% and offered at 6.515% from 6.630%‚ and the R186 was trading at 7.430% from 7.495%.
The rand was bid at R8.2540 per dollar from R8.2261 at Wednesday’s close and R8.2516 at Tuesday’s close.
Foreigners sold a net R1.184bn of South African bonds including repo transactions on Wednesday‚ after net purchases of R726.660m of local bonds on Tuesday‚ data released by the JSE show.
Nominal cumulative volume was R51.402bn on Wednesday from R195.039bn on Tuesday.
Foreigners were net sellers of R1.229bn of local bonds excluding repo transactions on Wednesday after net purchases of R754.267m of local bonds on Tuesday.
For the year to date foreigners have been net buyers of R63.774bn 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 R62.876bn of local bonds including repo transactions. In 2011 they bought R37.501bn worth of local bonds.
