04 Jan 2013

Bonds softer on weaker rand

I-Net Bridge

Johannesburg - The South African bond market was softer in quiet midday trade on Friday on a weaker rand. Traders said volumes were thin as the market waited for the December US non-farm payroll data due at 3.30pm local time.

“We followed the rand weaker‚ but trading is subdued as we wait for the US jobs data‚” a local bond trader said.

At 11:46am the benchmark R186 was trading at 7.380% from a previous close of 7.295%. The R157 was trading at 5.390% from 5.355% previously and the R207 was trading at 6.360% from its previous close of 6.310%.

The rand was last bid at R8.6537 to the US dollar from R8.5878 previously.

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