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Johannesburg - South African bonds were mostly weaker in late trade on Wednesday, largely on the back of a softer rand. A local trader said there was a lack of support from domestic real money accounts.
By 15:58, the benchmark R157 bond was trading at 7.770% from its previous close of 7.775%, while the R207 was bid at 8.540% from its previous close of 8.515%. The R186 was trading at 8.820% from its previous close of 8.770%.
The rand was bid at R6.7663 to the dollar from its previous close of R6.7358.
"The overall market is weaker, with the R208s and R209s weakening on an outright and relative basis after the auction announcement," a local trader said.
"The market has also been left long at the back end of the curve," he added.
Earlier, the National Treasury announced that it would auction R1.3bn worth of R208 bonds and R800m worth of R214 bonds at its weekly auction on April 19.
Foreigners were net buyers of R2.064bn of South African bonds including repo transactions on Tuesday after net purchases of R3.147m of local bonds on Monday, Bond Exchange of South Africa statistics show.
Nominal cumulative volume was R136.034bn on Tuesday from R54.501bn on Monday.
Foreigners were net buyers of R968.584m of South African bonds excluding repo transactions on Tuesday after net purchases of R295.250m of local bonds on Monday.
For the year to date, foreigners have been net sellers of R0.321bn worth of local bonds, excluding repo transactions. In 2010 foreigners bought net R57.064bn worth of local bonds, excluding repo transactions.
For the year to date for total transactions, including repo transactions, foreigners have been net sellers of R5.391bn of local bonds. In 2010 they bought net R44.541bn worth of bonds.
By 15:58, the benchmark R157 bond was trading at 7.770% from its previous close of 7.775%, while the R207 was bid at 8.540% from its previous close of 8.515%. The R186 was trading at 8.820% from its previous close of 8.770%.
The rand was bid at R6.7663 to the dollar from its previous close of R6.7358.
"The overall market is weaker, with the R208s and R209s weakening on an outright and relative basis after the auction announcement," a local trader said.
"The market has also been left long at the back end of the curve," he added.
Earlier, the National Treasury announced that it would auction R1.3bn worth of R208 bonds and R800m worth of R214 bonds at its weekly auction on April 19.
Foreigners were net buyers of R2.064bn of South African bonds including repo transactions on Tuesday after net purchases of R3.147m of local bonds on Monday, Bond Exchange of South Africa statistics show.
Nominal cumulative volume was R136.034bn on Tuesday from R54.501bn on Monday.
Foreigners were net buyers of R968.584m of South African bonds excluding repo transactions on Tuesday after net purchases of R295.250m of local bonds on Monday.
For the year to date, foreigners have been net sellers of R0.321bn worth of local bonds, excluding repo transactions. In 2010 foreigners bought net R57.064bn worth of local bonds, excluding repo transactions.
For the year to date for total transactions, including repo transactions, foreigners have been net sellers of R5.391bn of local bonds. In 2010 they bought net R44.541bn worth of bonds.
