Johannesburg - The long end of the South African bond market was firmer in quiet midday trade on Monday despite a softer rand.
“The long end is firm as that is where foreigners look to pick up stock‚ but otherwise the market is steady despite the weaker rand‚” a local bond trader said.
At 11.41am‚ the benchmark R186 was trading at 7.330% from 7.350% at Friday’s close and 7.420% at Thursday’s close.
The R157 was trading at 5.460%‚ unchanged from its previous close. The R207 was bid at 6.395% and offered at 6.385%‚ from its previous close of 6.410%.
The rand was bid at R8.6883/$ from Friday’s close of R8.6708 and Thursday’s close of R8.6886.
“The long end is firm as that is where foreigners look to pick up stock‚ but otherwise the market is steady despite the weaker rand‚” a local bond trader said.
At 11.41am‚ the benchmark R186 was trading at 7.330% from 7.350% at Friday’s close and 7.420% at Thursday’s close.
The R157 was trading at 5.460%‚ unchanged from its previous close. The R207 was bid at 6.395% and offered at 6.385%‚ from its previous close of 6.410%.
The rand was bid at R8.6883/$ from Friday’s close of R8.6708 and Thursday’s close of R8.6886.