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Johannesburg - South African bonds retained their firmer bias in late trade on Monday, tracking the strong local currency.
By 15:50, the benchmark R157 bond was trading at 6.535% from 6.585% at the previous close. The R207 was bid at 7.695% and offered at 7.665% from 7.705% and the R186 was trading at 7.910% from 7.965%
The rand was bid at 7.0533 against the dollar from its previous close of 7.1338.
"It's been thin today, not much going on. It's basically rand play," said a local trader.
Earlier another trader said there wouldn't be much trade expected ahead of the week's data.
Tomorrow sees the release of GDP data for the second quarter of 2011.
GDP growth in SA is likely to have eased to 1.5% quarter on quarter (q/q) seasonally adjusted annualised (saa) in the second quarter of 2011, from 4.8% in the first quarter, according to a poll of leading economists by I-Net Bridge.
The range of forecasts among nine economists for the current survey ranged from 0.2% q/q to 2.5% q/q, indicating a general consensus that growth faltered between the first and second quarters of the year.
Statistics SA (Stats SA) will release the latest gross domestic product (GDP) growth figures on Tuesday at 11:30.
Money supply and private sector credit extension data is also due this week.
Foreigners were net buyers of R15.020m of South African bonds including repo transactions on Friday after net purchases of R299.075m worth of local bonds on Thursday, data released by the JSE shows.
Nominal cumulative volume was R76.521bn on Friday from R38.857bn on Thursday.
Foreigners were net buyers of R176.921m of South African bonds excluding repo transactions on Friday after net purchases of R296.770m of local bonds on Thursday.
For the year to date, foreigners have been net buyers of R54.495bn worth of local bonds, excluding repo transactions. In 2010 foreigners bought net R57.064bn worth of local bonds, excluding repo transactions.
For the year to date for total transactions, including repo transactions, foreigners have been net buyers of R45.491bn of local bonds. In 2010 they bought net R44.541bn worth of bonds.
By 15:50, the benchmark R157 bond was trading at 6.535% from 6.585% at the previous close. The R207 was bid at 7.695% and offered at 7.665% from 7.705% and the R186 was trading at 7.910% from 7.965%
The rand was bid at 7.0533 against the dollar from its previous close of 7.1338.
"It's been thin today, not much going on. It's basically rand play," said a local trader.
Earlier another trader said there wouldn't be much trade expected ahead of the week's data.
Tomorrow sees the release of GDP data for the second quarter of 2011.
GDP growth in SA is likely to have eased to 1.5% quarter on quarter (q/q) seasonally adjusted annualised (saa) in the second quarter of 2011, from 4.8% in the first quarter, according to a poll of leading economists by I-Net Bridge.
The range of forecasts among nine economists for the current survey ranged from 0.2% q/q to 2.5% q/q, indicating a general consensus that growth faltered between the first and second quarters of the year.
Statistics SA (Stats SA) will release the latest gross domestic product (GDP) growth figures on Tuesday at 11:30.
Money supply and private sector credit extension data is also due this week.
Foreigners were net buyers of R15.020m of South African bonds including repo transactions on Friday after net purchases of R299.075m worth of local bonds on Thursday, data released by the JSE shows.
Nominal cumulative volume was R76.521bn on Friday from R38.857bn on Thursday.
Foreigners were net buyers of R176.921m of South African bonds excluding repo transactions on Friday after net purchases of R296.770m of local bonds on Thursday.
For the year to date, foreigners have been net buyers of R54.495bn worth of local bonds, excluding repo transactions. In 2010 foreigners bought net R57.064bn worth of local bonds, excluding repo transactions.
For the year to date for total transactions, including repo transactions, foreigners have been net buyers of R45.491bn of local bonds. In 2010 they bought net R44.541bn worth of bonds.
