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Bonds flat despite softer rand

Feb 06 2013 12:26 I-Net Bridge

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Johannesburg - The South African bond market was flat in midday trade on Wednesday despite a softer rand.

“The performance of the rand has been disappointing‚ but so far we have avoided following the rand weaker. That may change when the US enters our market this afternoon‚” a local bond dealer said.

At 11:40 the benchmark R186 was trading at 7.330% from 7.340% at Tuesday’s close. The R157 was bid at 5.330% and offered at 5.310% from 5.320% at its previous close and the R207 was bid at 6.320% and offered at 6.290% from its previous close of 6.305%.

The rand was last bid at R8.8988/$ from R8.8203 at Tuesday’s close and R8.9085 at Monday’s close.

The National Treasury will auction R500m of R209 bonds‚ and R800m each of R214 and R2048 bonds on February 12. 

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