Bonds firmer despite rand weakness
Johannesburg - The SA bond market maintained a positive bias in late trade‚ with the longer end of the yield curve attracting the most interest despite the softer rand.
At 15:44 the benchmark R186 was trading at 7.580% from Thursday’s close of 7.625%. The R157 was trading at 5.445% from its previous close of 5.460% and the R207 was bid at 6.435% and offered at 6.410%‚ from its previous close of 6.440%.
The rand was bid at R8.7406 to the dollar from Thursday’s close of R8.7034.
“Money continues to flow into emerging markets‚ particularly into the fixed-income space because of unattractive yields in the developed world and SA by default is a beneficiary‚” said Henk Viljoen‚ head of fixed interest at Stanlib.