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Bonds flat in lacklustre session

Feb 18 2013 16:32 I-Net Bridge

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Johannesburg - The South African bond market lacked fresh impetus to move in either direction on Monday‚ with the public holiday in the US adding to a quiet trading session.

The release of the domestic consumer price index (CPI) on Wednesday is‚ however‚ expected to potentially move the fixed income market‚ traders said.

In the afternoon session‚ bond yields were virtually unchanged from midday levels.

At 15:34‚ the R186 bid at 7.305% and offered at 7.275% from 7.280% at Friday’s close. The R157 was bid at 5.355% and offered at 5.335% from 5.340% at its previous close and the R207 was bid at 6.315% and offered at 6.285% from its previous close of 6.295%.

The rand was last bid at R8.8276/$ from R8.8542/$ at Friday’s close.

The CPI‚ used to measure inflation and monitored closely by the Reserve Bank‚ is expected to have remained unchanged at 5.7% year on year in January‚ according to a survey of leading economists by I-Net Bridge. The CPI numbers are due at 10:00 on Wednesday.

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