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Johannesburg - South African bonds were up to 6 basis points firmer in midday trade on Friday, as they drew strength from a stronger local currency and US Treasurys.
At 11:16, the benchmark R157 bond was trading at 6.820% from its previous close of 6.880%. The R207 was bid at 7.915% and offered at 7.885% from a previous close of 7.960% and the R186 was trading at 8.450% from its close of 8.500%.
The rand was bid at 7.6750 against the dollar from its previous close of 7.6966.
"US Treasurys have stabilised, they're a little bit stronger today and that has helped the mood. The euro is a lot stronger and that has helped the rand regain some lost ground - bonds have basically just followed those two," a trader said.
A quiet day is expected on the local markets and with no economic data due for release today, international events are likely to be the main source of direction.
Foreigners were net sellers of R1.348bn of South African bonds including repo transactions on Thursday after net sales of R2.379bn of local bonds on Tuesday, data released by the JSE shows. Local markets were closed Wednesday for a holiday.
Nominal cumulative volume was R54.876bn on Thursday from R83.551bn on Tuesday.
Foreigners were net sellers of R1.217bn of South African bonds excluding repo transactions on Thursday after net sales of R2.152bn of local bonds on Tuesday.
For the year to date foreigners have been net buyers of R15.685bn 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 R13.273bn of local bonds including repo transactions. In 2011 they bought R37.501bn of local bonds.
At 11:16, the benchmark R157 bond was trading at 6.820% from its previous close of 6.880%. The R207 was bid at 7.915% and offered at 7.885% from a previous close of 7.960% and the R186 was trading at 8.450% from its close of 8.500%.
The rand was bid at 7.6750 against the dollar from its previous close of 7.6966.
"US Treasurys have stabilised, they're a little bit stronger today and that has helped the mood. The euro is a lot stronger and that has helped the rand regain some lost ground - bonds have basically just followed those two," a trader said.
A quiet day is expected on the local markets and with no economic data due for release today, international events are likely to be the main source of direction.
Foreigners were net sellers of R1.348bn of South African bonds including repo transactions on Thursday after net sales of R2.379bn of local bonds on Tuesday, data released by the JSE shows. Local markets were closed Wednesday for a holiday.
Nominal cumulative volume was R54.876bn on Thursday from R83.551bn on Tuesday.
Foreigners were net sellers of R1.217bn of South African bonds excluding repo transactions on Thursday after net sales of R2.152bn of local bonds on Tuesday.
For the year to date foreigners have been net buyers of R15.685bn 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 R13.273bn of local bonds including repo transactions. In 2011 they bought R37.501bn of local bonds.
