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Weaker rand weighs on bond market

Jan 18 2013 12:15
I-Net Bridge
Johannesburg - The South African bond market was weaker in midday trade on Friday as negative sentiment reflected in the rand coupled with a weaker euro continued to influence yields.

“Sentiment is still negative but is reflected more in the long end of the curve‚” a local bond trader said.

At 11:33 the benchmark R186 was trading at 7.195% from Thursday’s close of 7.170%. The R157 was trading at 5.325% from 5.320% at its previous close and the R207 was bid at 6.275% and offered at 6.245% from its previous close of 6.240%.

The rand was last bid at R8.8690/$ from R8.8127 at Thursday’s close.

On Friday National Treasury allotted zero I2038 bonds after receiving only one bid worth R20m‚ R170m of the I2025 from bids worth R190m and R40m of the I2050 bond after bids worth R40m.

Last week‚ the National Treasury allotted R130m of the I2038 bond after receiving bids worth R150m‚ R90m of the I2025 from bids worth R110m and R85m of the I2050 bond after bids worth R85m.

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bonds  |  rand  |  markets  |  currencies

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