Johannesburg – The South African bond market was weak in afternoon trade on Wednesday after the release of the September consumer price index (CPI) at 10am showed a 5.5% year-on-year (y/y) increase compared with the consensus forecast of a 5.2% y/y rise and August’s 5.0% y/y gain.
“We are weaker on both the CPI and the rand weakness over the past couple of days‚” a local bond dealer said.
At 15:43 the benchmark R157 bond was trading at 5.455% from Tuesday’s close of 5.385%. The R207 was trading at 6.450% from its previous close of 6.420%‚ and the R186 was trading at 7.705% from its previous close of 7.645%.
The rand was bid at R8.7563/$ after earlier touching a worst level of R8.8254 from Tuesday’s close of R8.7595 and Monday’s close of R8.6350.