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Johannesburg - South African bonds were slightly weaker in midday trade on Tuesday, which a trader attributed to the weaker rand being weighed down by Standard & Poor's warning on Europe.
The ratings agency has put 15 eurozone countries on negative credit watch for a potential downgrade.
By 11:50, the benchmark R157 bond was trading at 6.730% from its previous close of 6.660%. The R207 was trading at 7.850% from a previous close of 7.770% and the R186 was trading at 8.430% from its close of 8.360%.
The rand was bid at R8.0903/$ from its previous close of R8.0264/$.
"Before the auction we were on the back foot because of that S&P news, we're still a touch weaker. It's incredibly quiet though," the trader said.
At its weekly auction, the National Treasury received bids totalling R2.95bn for R1.1bn worth of R208 bonds at a clearing yield of 7.870% and bids totalling R2.56bn for R1bn worth of R214 bonds at a clearing yield of 8.860%.
Locally, it is another quiet day on the data front with no significant data releases scheduled.
The ratings agency has put 15 eurozone countries on negative credit watch for a potential downgrade.
By 11:50, the benchmark R157 bond was trading at 6.730% from its previous close of 6.660%. The R207 was trading at 7.850% from a previous close of 7.770% and the R186 was trading at 8.430% from its close of 8.360%.
The rand was bid at R8.0903/$ from its previous close of R8.0264/$.
"Before the auction we were on the back foot because of that S&P news, we're still a touch weaker. It's incredibly quiet though," the trader said.
At its weekly auction, the National Treasury received bids totalling R2.95bn for R1.1bn worth of R208 bonds at a clearing yield of 7.870% and bids totalling R2.56bn for R1bn worth of R214 bonds at a clearing yield of 8.860%.
Locally, it is another quiet day on the data front with no significant data releases scheduled.
