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Bonds stay firm after first auction

Jan 08 2013 13:11 I-Net Bridge

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Johannesburg - The South African bond market was firm in midday trade on Tuesday after this year’s first bond auction at 11:00.

The South African Treasury on Tuesday allotted R1.1bn worth of R213 bonds at a clearing yield of 7.730% and R1bn worth of R2048 bonds at a clearing yield of 8.240%. The amount offered for the R213 was R2.075bn‚ while for the R2048 it was R2.515bn.

“It was a good auction and should set the tone for the first two months until the budget in late February‚” a local bond dealer said.

At 8:54, the benchmark R186 was trading at 7.200% from Monday’s close of 7.260% and Friday’s close of 7.365%. The R157 was trading at 5.315% from 5.340% previously and the R207 was bid at 6.245% and offered at 6.215% from its previous close of 6.275%.

The rand was last bid at R8.5820/$ from R8.5648 at Monday’s close and R8.5549 at Friday’s close. 

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