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Johannesburg - Ignoring a stronger rand,
South African bonds were softer in late trade on Monday which traders
attributed to supply issues.
By 16:00 the short-term government R154 bond was bid at 7.095% and
offered at 7.075% after closing at 7.060% on Friday and the medium-term R157
was at 8.200% from 8.165% at its previous close. The long-term R186 was bid
at 9.045% and offered at 9.030% from 9.00% previously.
The rand was bid at 7.3689 to the dollar from 7.4229 at its previous
close.
Traders noted that there are quite a few bonds coming to the market this
week, including the City of Cape Town, African Bank, Investec and Eskom, and
the market is concentrating its attention on supply issues.
Together with the R2.1bn worth of bonds being auctioned by the
Treasury on Tuesday, the total could be as much as R8bn, a local
trader noted.
The National Treasury will auction R700m worth of R203 bonds
and R1.4bn worth of R207 bonds on Tuesday at its regular weekly
bond auction.
Manufacturing and mining production and Q1 business confidence will be
the focus on the data front this week.
Foreigners were net buyers of R167.135m of South African
bonds including repo transactions on Friday, after net purchases of R737.843m of local bonds on Thursday, Bond Exchange of South Africa
statistics show.
Nominal cumulative volume was R25.090bn on Friday after R23.263bn on Thursday.
Foreigners were net buyers of R165.715m of South African
bonds excluding repo transactions on Friday, after net purchases of R737.381bn of local bonds on Thursday.
In the year to date foreigners have been net buyers of R10.706bn worth of local bonds, excluding repo transactions.
So far for total transactions, including repo transactions, foreigners
have been net buyers of R11.881bn worth of bonds.
In 2009 foreigners were net buyers of R27.346bn worth of local
bonds, excluding repo transactions, while for total transactions, including
repo transactions, foreigners were net sellers of R2.424bn worth
of bonds.
- I-Net Bridge