Johannesburg - The South African bond market was mixed‚ but off its worst level in midday trade on Tuesday as the rand recovered.
“The rand recovery has helped our market. The auction also saw good demand for the R186‚” a local bond dealer said.
At 11:33 the benchmark R186 was trading at 7.455% from 7.335% at Mondays’ close and 7.350% at Friday’s close. The R157 was trading at 5.420% from 5.430% at its previous close and the R207 was trading at 6.410% from its previous close of 6.400%.
The rand was last bid at R9.0667/$ from a worst level in the early trade of R9.1258/$‚ and R9.0897/$ at Monday’s close.
The South African Treasury on Tuesday allotted R700m each worth of R186 bonds at a clearing yield of 7.460%‚ R209 bonds at a clearing yield of 8.320% and R213 bonds at a clearing yield of 8.050%. Bids amounted to R2.99bn‚ R1.8bn and R1.89bn respectively.
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