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Bonds tad stronger on rand

Dec 18 2012 14:33 I-Net Bridge

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Johannesburg - The South African bond market gained a few points during the morning session on Tuesday after the holiday on Monday on the stronger rand over the weekend.

At 12:46‚ 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 R8.5519/$ 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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