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Johannesburg - Having enjoyed a brief respite
during the morning session after what has been a particularly busy week,
South African bonds gathered some momentum in midday trade on Friday on
the back of a strong rand.
At 11.45, the benchmark R157 bond was trading at 6.630%, from
its previous close of 6.665%. The R207 was bid at 7.770% and offered at
7.740% from a previous close of 7.780% and the R186 was bid at 8.250%
and offered at 8.245% from its close of 8.290%.
The rand was bid at 7.6117 against the dollar from its previous close of 7.6552.
"Bonds are stronger on the currency. After a busy week with
the Budget and inflation data, there's not much activity at the moment.
We expect to go into the weekend at these levels," a local bond trader
said.
Foreigners were net buyers of R683.936m of South
African bonds including repo transactions on Thursday after net
purchases of R2.178bn of local bonds on Wednesday, data released
by the JSE shows.
Nominal cumulative volume was R62.370bn on Thursday from R80.775bn on Wednesday.
Foreigners were net buyers of R682.316m of South
African bonds excluding repo transactions on Thursday after net
purchases of R2.179bn of local bonds on Wednesday.
For the year to date foreigners have been net buyers of
R12.866bn 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 R11.487bn of local bonds including repo transactions. In 2011 they bought
R37.501bn of local bonds.