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Johannesburg - Bonds were up to 22 basis points firmer in early trade on Wednesday in a continuation of the strength seen late on Tuesday as the currency strengthened.
By 09:05 the short-term government R153 bond was at 9.230% from its previous close of 9.425%. The medium-term R157 was at 8.850% from 8.860% at Tuesday's close and the long-term R186 was bid at 8.465% from 8.525% before.
The rand was last at R9.6585 per dollar from a previous close of R9.6998.
A local bond trader said the strength was a continuation of the moves of late yesterday when the rand strengthened below the R10 per dollar level.
The rand has continued on the front foot on Wednesday morning.
"We also have some finality in the US presidential elections and are seeing renewed interest in emerging market assets," he added.
He said he expects bond yields to continue to drift lower.
Foreigners were net buyers of R1.645bn worth of bonds on Tuesday after net sales of R183.621m worth of local bonds on Monday, Bond Exchange of South Africa statistics show.
Nominal cumulative volume was R166.641bn on Tuesday from
R39.778m on Monday.
- I-Net Bridge