• Change of culture needed

    The right leadership will help SA shed its culture of violence, says Mandi Smallhorne.

  • 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

Loading...
See More

Bonds in limbo‚ awaiting budget

Feb 11 2013 12:46 I-Net Bridge

Related Articles

Bonds keep firmer bias in quite trade

Bonds little changed after auction

Bonds firmer despite London selling

Bonds remain firmer in quite trade

Bonds flat despite softer rand

Bonds a touch firmer into the weekend

 
Johannesburg - The South African bond market was little moved at noon on Monday despite the softer rand.

“The benchmark R186 was trading one basis point weaker‚ with bond yields relatively unchanged from Friday‚ ignoring the slight weaker rand and awaiting the budget speech‚” said Steve Arnold‚ head of bonds at Investec.

“There is a very large duration bond auction tomorrow‚ and if there is low interest in the auction‚ this could cause bond yields to climb‚” he said.

At 12:00 the benchmark R186 was bid at 7.305% and offered at 7.275% from 7.280% at Friday’s close. The R157 was bid at 5.320% and offered at 5.300% from 5.290% at its previous close and the R207 was bid at 6.295% and offered at 6.265% from its previous close of 6.260%.

The rand was last bid at R8.9014/$ from R8.8693 overnight.

Rand Merchant Bank said in a note that Finance Minister Gordhan would be hard pressed to pull some good news rabbits out of the hat on budget day‚ which may sour sentiment towards South African government bonds both locally and more importantly from an offshore perspective.

“The budget will be the focus point for the next few weeks‚ especially with this coming week very low on data with only retail sales‚ manufacturing and gold production numbers due for release‚” the bank said. 

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

markets bonds

NEXT ON FIN24X

 
 
 

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
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

20 self-made teenage millionaires

From selling lemonade to building webpages, these young entrepreneurs made a pretty fortune!

 
 

Luxury living

Top 10 richest musicians of all time
10 most expensive cars In the world
10 of the most expensive things that will leave your jaw hanging!
Seven of the most expensive children's toys ever made

Money Clinic

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

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...