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Johannesburg - South African bonds remained firm
in midday trade on Thursday, but were off the session's best levels as
the weaker rand weighed.
At 11:50, the benchmark R157 bond was trading at 6.510% from Wednesday's close of 6.540%. The R207 was bid at 7.640% and offered at 7.635% from a previous close of 7.675% and the R186 was trading at 8.300% from its close of 8.335%.
The rand was bid at 8.0368 against the dollar from yesterday's close of 7.9993.
"We were looking better this morning - I guess it was on the rand recovery but then the rand weakened again and the market has reacted to that.
"There is a bit of residual stock in the market; foreigners sold quite a bit of R208s yesterday so that overhang is also affecting the market," a trader said.
Foreigners were net sellers of R255.446m of South African bonds including repo transactions on Wednesday after net purchases of R208.093m of local bonds on Tuesday, data released by the JSE shows.
Nominal cumulative volume was R59.030bn on Wednesday from R237.132bn on Tuesday.
Foreigners were net sellers of R406.822m of South African bonds excluding repo transactions on Wednesday after net purchases of R917.880m of local bonds on Tuesday.
For the year to date foreigners have been net buyers of R36.643bn of local bonds, excluding repo transactions. In 2011 they were net buyers of R47.359bn worth of local bonds, excluding repo transactions.
In the year to date foreigners have been net buyers of R32.580bn of local bonds including repo transactions. In 2011 they bought R37.501bn of local bonds.
At 11:50, the benchmark R157 bond was trading at 6.510% from Wednesday's close of 6.540%. The R207 was bid at 7.640% and offered at 7.635% from a previous close of 7.675% and the R186 was trading at 8.300% from its close of 8.335%.
The rand was bid at 8.0368 against the dollar from yesterday's close of 7.9993.
"We were looking better this morning - I guess it was on the rand recovery but then the rand weakened again and the market has reacted to that.
"There is a bit of residual stock in the market; foreigners sold quite a bit of R208s yesterday so that overhang is also affecting the market," a trader said.
Foreigners were net sellers of R255.446m of South African bonds including repo transactions on Wednesday after net purchases of R208.093m of local bonds on Tuesday, data released by the JSE shows.
Nominal cumulative volume was R59.030bn on Wednesday from R237.132bn on Tuesday.
Foreigners were net sellers of R406.822m of South African bonds excluding repo transactions on Wednesday after net purchases of R917.880m of local bonds on Tuesday.
For the year to date foreigners have been net buyers of R36.643bn of local bonds, excluding repo transactions. In 2011 they were net buyers of R47.359bn worth of local bonds, excluding repo transactions.
In the year to date foreigners have been net buyers of R32.580bn of local bonds including repo transactions. In 2011 they bought R37.501bn of local bonds.
