• SA cities need foreigners

    We need to protect our cities' cosmopolitan nature, says Mzwandile Jacks.

  • Am I a racist?

    Does hating government's arrogance, nepotism and greed make me a bigot, asks Anton Ressel.

  • Recipe for disaster

    Malema's flames of frustration are fuelling white extremism, says Leopold Scholtz.

Loading...
See More

Bonds weaker on US uncertainty

Nov 08 2012 09:33 I-Net Bridge

Related Articles

US investors face infamous fiscal cliff

Obama’s plans to fix US economy

Rand hits 2-week high after Obama win

 
Johannesburg - The South African bond market was weaker on Thursday morning as traders looked for direction after the hype of the US election wore off.

“Domestic bonds were steady to slightly weaker yesterday‚ following a week of steady gains‚” Absa Capital said in a note.

The bank said markets’ focus was again on the US fiscal cliff. “To the extent that progress remains uncertain‚ we expect that developments in the US to remain a risk factor for markets.”

At 08:00 the benchmark R186 was bid at 7.655% and offered at 7.640% from Wednesday’s close of 7.630%. The R157 was trading at 5.470%‚ unchanged from its previous close of 5.470%‚ and the R207 was bid at 6.470% and offered at 6.460%‚ from its previous close of 6.455%.

The rand was bid at R8.6352/$ from Wednesday’s close of R8.6375.

RMB said in a note: “More pressure may come from the R3b R206/R186 switch auction this morning at 10am‚ with the usual joker being the level that National Treasury sets where they will repurchase the R206s. If this level is set too high‚ as we have been seeing with the R201 buybacks‚ demand for the R186 will be patchy at best and at cheeky levels.”

bonds  |  markets

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Must see: The world’s most expensive timepiece

At $40 million this is the most expensive watch in the world.

 
 

Luxury living

Ridiculous demands people with too much money make
8 of the priciest places to dock your yacht
Habits of the world’s richest people
The rich dogs of Instagram

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Government’s call for the private sector to add power to the grid is:

Previous results · Suggest a vote

Loading...