• Rating agencies and SA

    Warts and all, rating agencies kept SA on the straight and narrow, says Daniel Silke.

  • Crisis management fail

    Ford SA lost the plot right after the tragic death of a Kuga owner in 2015, says Solly Moeng.

  • Stop the roads carnage

    SA needs visible law enforcement to reduce our ghastly road death toll, says Mandi Smallhorne.

All data is delayed
See More

Bonds flat in dull trade

Jan 28 2013 12:46
I-Net Bridge
Johannesburg - The South African bond market was flat in dull midday trade on Monday as there was nothing to move the market.

“The rand seems to have found a stable level for the moment. We are waiting to see which way the rand lemmings move next‚ and bonds will follow at a more measured pace‚ but for now there is nothing to move the market‚ so volumes are very light‚” a local bond dealer said.

At 11:46 the benchmark R186 was trading at 7.345% from 7.350% at Friday’s close and 7.370% at Thursday’s close. The R157 was bid at 5.385% and offered at 5.365% from 5.380% at its previous close and the R207 was bid at 6.330% and offered at 6.300% from its previous close of 6.320%.

The rand was last bid at R8.9544/$ from R8.9422 at Friday’s close and R9.0686 at Thursday’s close.

On the rand pushing past the key psychological barrier of R9.00/$ on Wednesday last week Standard Bank said: “There was some commodity price weakness on the day‚ but commodity and emerging market currency performance was more mixed‚ and the rand under-performed by a wide margin across both currency categories.
"This suggests that the rand moved beyond beta considerations and on domestic-specific factors. The magnitude of the move‚ to our minds‚ speaks to underlying fragility of the balance of payments‚ ongoing negative domestic news flow with regard to labour market developments and market psychology/technicals‚” the bank said. 

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

markets bonds



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about: SMALL BUSINESS

From fossils to finance – that’s been the career trajectory of Dr Merrill van der Walt, a palaeontologist until recently. She is now a statistician with a difference.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How did you buy your property?

Previous results · Suggest a vote