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Bonds hardly changed in thin trade

Dec 27 2012 14:29 I-Net Bridge

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Johannesburg – The South African bond market was very quiet on Thursday at noon‚ with most participants away on holiday.

“There is not much to say about the market because there is not much activity over the holidays. Some bonds have ticked up or down a basis point or two‚ but that’s on very thin volumes‚” a local bond trader said.

The bond market is expected to be very quiet on Thursday‚ after the market was closed on Tuesday and Wednesday for the Christmas and Day of Goodwill holidays and will probably remain quiet until the second week in January.

Nominal cumulative volume on Monday was a mere R4bn from R39bn last Friday‚ giving an indication of just how little has been going on in the bond market this week.

At 11:35‚ the benchmark R186 was bid at 7.235% and offered at 7.225% from a previous close of 7.210%. The R157 was bid at 5.310% and offered at 5.300% from a close of 5.290% and the R207 was bid at 6.255% and offered at 6.235% from a close of 6.230%.

The rand was last bid at R8.5248/$ from R8.5657 previously.

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