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Johannesburg - South African bonds were firm in
midday play on Wednesday, largely on the back of the rand, a trader
said.
The National Treasury said it would auction R700m worth of R204 bonds, R700m worth of R208 bonds and R700m worth of R214 bonds on March 6.
At 11:50, the benchmark R157 bond was bid at 6.605% and offered at 6.600% from its previous close of 6.625%. The R207 was bid at 7.730% and offered at 7.715% from a previous close of 7.745%, and the R186 was bid at 8.240% and offered at 8.220% from its close of 8.250%.
The rand was bid at 7.4669 against the dollar from its previous close of 7.4813.
Earlier, the South African Reserve Bank (Sarb) said credit extension to the private sector (PSCE) grew at a rate of 7.33% year-on-year (y/y) in January from 6.14% in December. The rate of growth of SA's broad M3 money supply measure rose by 6.58% y/y in January from 8.27% y/y in December.
The rate of growth in PSCE was expected to have registered 6.92% y/y, according to a survey by I-Net Bridge, and M3 was expected to have increased at 8.6% y/y.
Foreigners were net sellers of R235.792m of South African bonds including repo transactions on Tuesday after net sales of R451.317m of local bonds on Monday, data released by the JSE show.
Nominal cumulative volume was R221.804bn on Tuesday from R50.380bn on Monday.
Foreigners were net sellers of R160.230m of South African bonds excluding repo transactions on Tuesday after net sales of R438.600m of local bonds on Monday.
For the year to date foreigners have been net buyers of R12.920bn of local bonds, excluding repo transactions. In 2011 they were net buyers of R47.359bn worth of local bonds, excluding repo transactions.
In the year to date foreigners have been net buyers of R11.453bn of local bonds including repo transactions. In 2011 they bought R37.501bn of local bonds.
The National Treasury said it would auction R700m worth of R204 bonds, R700m worth of R208 bonds and R700m worth of R214 bonds on March 6.
At 11:50, the benchmark R157 bond was bid at 6.605% and offered at 6.600% from its previous close of 6.625%. The R207 was bid at 7.730% and offered at 7.715% from a previous close of 7.745%, and the R186 was bid at 8.240% and offered at 8.220% from its close of 8.250%.
The rand was bid at 7.4669 against the dollar from its previous close of 7.4813.
Earlier, the South African Reserve Bank (Sarb) said credit extension to the private sector (PSCE) grew at a rate of 7.33% year-on-year (y/y) in January from 6.14% in December. The rate of growth of SA's broad M3 money supply measure rose by 6.58% y/y in January from 8.27% y/y in December.
The rate of growth in PSCE was expected to have registered 6.92% y/y, according to a survey by I-Net Bridge, and M3 was expected to have increased at 8.6% y/y.
Foreigners were net sellers of R235.792m of South African bonds including repo transactions on Tuesday after net sales of R451.317m of local bonds on Monday, data released by the JSE show.
Nominal cumulative volume was R221.804bn on Tuesday from R50.380bn on Monday.
Foreigners were net sellers of R160.230m of South African bonds excluding repo transactions on Tuesday after net sales of R438.600m of local bonds on Monday.
For the year to date foreigners have been net buyers of R12.920bn of local bonds, excluding repo transactions. In 2011 they were net buyers of R47.359bn worth of local bonds, excluding repo transactions.
In the year to date foreigners have been net buyers of R11.453bn of local bonds including repo transactions. In 2011 they bought R37.501bn of local bonds.
