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Bonds stays firmer on rand

Dec 18 2012 17:19
I-Net Bridge
markets,mohamed mursi

Share prices on the Egypt Exchange declined over 10%, after President Mohamed Mursi assumed sweeping powers that sparked clashes and polarised the country's politics. (AFP)

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Johannesburg – The South African bond market remained unchanged in late trade on Tuesday with few if any trades recorded in the afternoon session and many traders having called it a day soon after the lunch break.

With many traders already on holiday and market conditions extremely quiet ahead of the festive season‚ these conditions are likely to prevail until the new year.

The South African bond market remained unchanged in late session from the midday levels in quite session.

At 4.24‚ the benchmark R186 was trading at 7.320%‚ from a close of 7.330% on Friday. The R157 was trading at 5.395% from a close of 5.415% previously. The R207 was bid at 6.360% and offered at 6.330% from a close of 6.370% before.

The rand was last bid at R8.53/$ from R8.5218/$ previously‚ but was still far stronger than the R8.6521/$ on Friday.

“The bond market has been led by moves in the rand over the weekend as the euro strengthened. This is giving a bit of impetus‚ but liquidity has not been that great‚ so I wouldn’t read too much into it‚” an RMB dealer said.

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