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Bonds weaker on softer rand

Feb 14 2013 12:12
I-Net Bridge
Johannesburg - The South African bond market was weaker in midday trade on Thursday on the back of a weaker rand.

“We are weaker on the back of the softer rand‚ but appear to have stabilised for the moment. We are watching the rand and if it goes above R8.9 then we could see some renewed selling‚” a local bond trader said.

At 11:30 the benchmark R186 was trading at 7.315% from 7.280% at Wednesday’s close and 7.315% at Tuesday’s close. The R157 was trading at 5.345% from 5.325% at its previous close and the R207 was bid at 6.305% and offered at 6.280% from its previous close of 6.270%.

The rand was last bid at R8.8818/$ from R8.8591 overnight.

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