In partnership with
  • Busting Uber myths

    The ehailing firm is constantly trying, succeeding - and sometimes failing, says Ian Mann.

  • Trapped in a democracy

    The very people elected to bring benefits to all are undermining SA, says Solly Moeng.

  • Marikana spectre

    Five years after the bloody massacre calls for justice are growing louder, says Terry Bell.

Loading...

Bonds off worst level on rand recovery

Jan 24 2013 12:38
I-Net Bridge
Johannesburg - The South African bond market was softer but off its worst level in quiet midday trade as the rand recovered.

“The rand has helped us‚ but volumes remain light as we wait to see the tone of the central bank’s statement this afternoon‚” a local bond dealer said.

At 11:46 the benchmark R186 was trading at 7.310% from 7.305% at Wednesday’s close and 7.240% at Tuesday’s close. The R157 was trading at 5.370% from 5.340% at its previous close and the R207 was bid at 6.305% and offered at 6.275% from its previous close of 6.285%.

The rand was last bid at R9.0444/$ from R9.0626 at Wednesday’s close and R8.8436 at Tuesday’s close.

The rand broke above R9/$ in late trade on Wednesday. The South African Reserve Bank’s monetary policy committee (MPC) will make its decision known on the repo rate shortly after 15:00.

All economists surveyed expect no change. The last repo rate cut was in July.

 

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

bonds  |  markets

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
Comments have been closed for this article.
 

Company Snapshot

We're Talking About...

Savings Month

It's never too late to start saving. Visit our special issue and add your voice.
 

Money Clinic

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

Voting Booth

The proposal to nationalise SARB will

Previous results · Suggest a vote

Loading...