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Bonds extend gains as rand dips

Jun 03 2013 18:59 I-Net Bridge

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Johannesburg - The bond market extended gains in late trade as the rand strengthened below the R9.90/$ handle on Monday.

“We were due for a bounce after last week’s sell-off.

"The rand is giving us some impetus‚ although it is too early to tell if this is a trend‚” a Johannesburg-based trader said.

Foreigners were net sellers of R6.171bn of South African bonds including repurchase agreements in the week ended May 31‚ after net sales of R2.040bn of local bonds the week before‚ figures from the JSE show.

At 16:00 the benchmark R186 bond was trading at 7.000%‚ from 7.570% at Friday’s close and 7.430% at Thursday’s close.

The R157 was trading at 5.680%‚ from 5.745% at its previous close‚ and the R207 was trading at 6.690%‚ from 6.775% at its previous close.

The rand was trading at R9.8860 to the dollar‚ from Friday’s close of R10.0550.

18:09 Trade Range so far Previous Close

(14.09GMT)

R186 (2026) 7.000% 7.000% - 7.605% 7.570%

R157 (2016) 5.680% 5.645% - 5.780% 5.745%

R207 (2020) 6.690% 6.685% - 6.815% 6.775%

Bond Exchange of SA (in billions of rand)

Thursday Friday

Nominal cumulative volume R85.681 R106.482

Net foreign purchases/(sales) (R2.175) (R1.008bn)

Net foreign purchases year to date: R13.268bn

Net foreign purchases in 2012: R85.373bn

Net foreign purchases in 2011: R37.501bn

Repo rate: 5.0%


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