SA bonds weaker as chance of US rate hike up

Johannesburg - South African bonds weakened on Monday as yields across the curve climbed, with the benchmark 2026 issue adding 10 basis points to 8.155 after solid US inflation data raised the likelihood of a September rate hike by the Federal Reserve.

"Today's weakness is a continuation from Friday after we got better-than-expected US CPI numbers, and that probably reinforced the idea of an earlier Fed hike," said Alexa Nicolau, a fixed-income analyst at RMB.