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Bonds remain firmer in quite trade

Feb 07 2013 12:25 I-Net Bridge

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Johannesburg - The South African bond market kept a firmer bias in quiet mid-morning trade on Thursday ahead of domestic manufacturing data‚ due at 13:00.

At 11:46 the benchmark R186 was trading at 7.275% from 7.315% at Wednesday’s close. The R157 was trading at 5.290% from 5.305% at its previous close and the R207 was bid at 6.280% and offered at 6.250% from its previous close of 6.280%.

The rand was last bid at R8.8986/$ from R8.9012 at Wednesday’s close and R8.8203 at Tuesday’s close.

Manufacturing production is expected to have increased at a slower pace on a year-on-year basis in December following a 3.4% year-on-year increase in November.

Standard Bank economists see manufacturing production having increased by 1.9% year on year‚ while Meganomics forecast a 0.8% year-on-year increase.

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