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Johannesburg - South African bonds were firm in
midday play on Monday, as they tracked the perkier local currency.
A number of key economic data can be expected this week, including the decision on interest rates, producer inflation numbers, money supply figures, and private sector credit extension.
At 11:50, the benchmark R157 bond was at 6.780% from its previous close of 6.820%. The R207 was bid at 7.890% and offered at 7.860% from a previous close of 7.900%, and the R186 was trading at 8.400% from its close of 8.445%.
The rand was bid at 7.6782 against the dollar from its previous close of 7.6774.
"There's not much happening today, obviously there's a bit of volatility above where we closed on Friday. We've gained a couple of points, but not much really in it.
"It looks as though the data in the MPC (monetary policy committee) is keeping guys out of the market. They (market participants) don't expect a cut but what is important is what kind of forecast comes out of there in terms of inflation and growth - so the mindset of the Sarb (SA Reserve Bank) is what's going to be of importance.
"Guys are also trying to gauge what sort of feed through the food inflation has on PPI (producer price index)," a trader said.
Foreigners were net buyers of R2.529bn of South African bonds including repo transactions on Friday after net sales of R1.348bn of local bonds on Thursday, data released by the JSE shows.
Nominal cumulative volume was R46.007bn on Friday from R54.876bn on Thursday.
Foreigners were net buyers of R2.528bn of South African bonds excluding repo transactions on Friday after net sales of R1.217bn of local bonds on Thursday.
For the year to date foreigners have been net buyers of R18.214bn of local bonds, excluding repo transactions. In 2011 they were net buyers of R47.359bn worth of local bonds, excluding repo transactions.
In the year to date foreigners have been net buyers of R15.801bn of local bonds including repo transactions. In 2011 they bought R37.501bn of local bonds.
A number of key economic data can be expected this week, including the decision on interest rates, producer inflation numbers, money supply figures, and private sector credit extension.
At 11:50, the benchmark R157 bond was at 6.780% from its previous close of 6.820%. The R207 was bid at 7.890% and offered at 7.860% from a previous close of 7.900%, and the R186 was trading at 8.400% from its close of 8.445%.
The rand was bid at 7.6782 against the dollar from its previous close of 7.6774.
"There's not much happening today, obviously there's a bit of volatility above where we closed on Friday. We've gained a couple of points, but not much really in it.
"It looks as though the data in the MPC (monetary policy committee) is keeping guys out of the market. They (market participants) don't expect a cut but what is important is what kind of forecast comes out of there in terms of inflation and growth - so the mindset of the Sarb (SA Reserve Bank) is what's going to be of importance.
"Guys are also trying to gauge what sort of feed through the food inflation has on PPI (producer price index)," a trader said.
Foreigners were net buyers of R2.529bn of South African bonds including repo transactions on Friday after net sales of R1.348bn of local bonds on Thursday, data released by the JSE shows.
Nominal cumulative volume was R46.007bn on Friday from R54.876bn on Thursday.
Foreigners were net buyers of R2.528bn of South African bonds excluding repo transactions on Friday after net sales of R1.217bn of local bonds on Thursday.
For the year to date foreigners have been net buyers of R18.214bn of local bonds, excluding repo transactions. In 2011 they were net buyers of R47.359bn worth of local bonds, excluding repo transactions.
In the year to date foreigners have been net buyers of R15.801bn of local bonds including repo transactions. In 2011 they bought R37.501bn of local bonds.
