Johannesburg - The South African bond market was little changed in midday trade on Tuesday after the weekly bond auction at 11:00.
Dealers said the release of the Quarterly Labour Force Survey (QLFS) at 11:30‚ which showed the unemployment rate dropped to 24.9% in the fourth quarter‚ compared with the Investec forecast of a rise to 26.0%‚ from 25.5% in the third quarter.
“We had some jockeying around at auction time‚ but since then the market has gone quiet‚” a local bond dealer said.
At 11:52 the benchmark R186 was trading at 7.330% from 7.350% at Monday’s close. The R157 was bid at 5.340% and offered at 5.320% from 5.340% at its previous close and the R207 was trading at 6.320% from its previous close of 6.325%.
The rand was last bid at R8.8770/$ from R8.9085 at Monday’s close and R8.8527 on Friday’s close.
The South African Treasury on Tuesday allotted R700m each of R186 bonds at a clearing yield of 7.340%‚ R213 bonds at a clearing yield of 7.950% and R2048 bonds at a clearing yield of 8.400%.
The amount of bids received were R2.08bn‚ R1.76bn and R2.25 bn respectively.