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Johannesburg – The SA bond market turned positive in the afternoon session‚ tracking the firmer rand‚ after a worse-than-expected US jobs report.
At 15:55‚ the benchmark R157 bond was trading at 5.350% from 5.395% at Thursday’s close. The R207 was trading at 6.380% from Thursday’s close of 6.440%‚ and the R186 was trading at 7.260% from 7.335% previously.
The rand was bid at R8.2037 per dollar from Thursday’s close of R8.2996 and Wednesday’s close of R8.3919.
“The bond market couldn’t ignore the rand strength following the poor US jobs report‚ which weakened the US dollar‚” a local trader said.
The US economy added 96 000 jobs in August‚ lower than 125 000 forecast by Dow Jones Newswires economists. The jobs gain in July was also revised lower to 141 000 from 163 000. The unemployment rate‚ though‚ unexpectedly fell to 8.1% versus a consensus expectation of 8.3%.
Foreigners bought a net R931.343m South African bonds including repo transactions on Thursday after net purchases of R1.212bn of local bonds on Wednesday‚ data released by the JSE shows.
Nominal cumulative volume was R58.701bn on Thursday from R48.237bn on Wednesday.
Foreigners were net buyers of R881.230m of local bonds excluding repo transactions on Thursday after net purchases of R1.264bn of local bonds on Wednesday.
For the year to date foreigners have been net buyers of R72.444bn 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 R72.278bn of local bonds including repo transactions. In 2011 they bought R37.501bn worth of local bonds.
At 15:55‚ the benchmark R157 bond was trading at 5.350% from 5.395% at Thursday’s close. The R207 was trading at 6.380% from Thursday’s close of 6.440%‚ and the R186 was trading at 7.260% from 7.335% previously.
The rand was bid at R8.2037 per dollar from Thursday’s close of R8.2996 and Wednesday’s close of R8.3919.
“The bond market couldn’t ignore the rand strength following the poor US jobs report‚ which weakened the US dollar‚” a local trader said.
The US economy added 96 000 jobs in August‚ lower than 125 000 forecast by Dow Jones Newswires economists. The jobs gain in July was also revised lower to 141 000 from 163 000. The unemployment rate‚ though‚ unexpectedly fell to 8.1% versus a consensus expectation of 8.3%.
Foreigners bought a net R931.343m South African bonds including repo transactions on Thursday after net purchases of R1.212bn of local bonds on Wednesday‚ data released by the JSE shows.
Nominal cumulative volume was R58.701bn on Thursday from R48.237bn on Wednesday.
Foreigners were net buyers of R881.230m of local bonds excluding repo transactions on Thursday after net purchases of R1.264bn of local bonds on Wednesday.
For the year to date foreigners have been net buyers of R72.444bn 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 R72.278bn of local bonds including repo transactions. In 2011 they bought R37.501bn worth of local bonds.
