Loading...
See More

Bonds softer on weaker rand

Jan 15 2013 12:35
I-Net Bridge
Johannesburg – The South African bond market was softer in midday trade on Tuesday on a weaker rand‚ despite a well bid auction at 11:00.

The National Treasury on Tuesday allotted R500m worth of R2023 bonds at a clearing yield of 6.630%‚ R1.1bn worth of R214 bonds at a clearing yield of 7.970% and R500m worth of R186 bonds at a clearing yield of 7.080%.

Bid received totaled R1.605bn‚ R2.165bn and R1.685 billion respectively.

“We had a good auction‚ but the weaker rand is weighing on the bond market‚” a local bond dealer said.

At 11.55am the benchmark R186 was trading at 7.110% from Monday’s close of 7.095% and Friday’s close of 7.150%. The R157 was trading at 5.300% from 5.305% at its previous close and the R207 was bid at 6.220% and offered at 6.190% from its previous close of 6.175%.

The rand was last bid at R8.7553/$ from R8.7008/$ at Monday’s close.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

bonds  |  market

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About...

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Introducing tablets in schools is:

Previous results · Suggest a vote

Loading...