{"id":10423,"date":"2012-05-02T20:30:47","date_gmt":"2012-05-02T18:30:47","guid":{"rendered":"http:\/\/www.myza.co.za\/05\/foreign-demand-boosts-s-african-bonds-but-rand-falls\/"},"modified":"2012-05-02T20:30:47","modified_gmt":"2012-05-02T18:30:47","slug":"foreign-demand-boosts-s-african-bonds-but-rand-falls","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/foreign-demand-boosts-s-african-bonds-but-rand-falls\/","title":{"rendered":"Foreign demand boosts S.African bonds but rand falls"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Weekly government bond auction well supported<\/span><\/p>\n

<\/span><\/p>\n

* Rand tracks euro weaker as growth worries bite<\/p>\n

<\/span><\/p>\n

JOHANNESBURG<\/span> May 2 (Reuters) – South African government
\nbonds rallied on Wednesday and yields fell on strong demand from
\nforeign accounts but the rand weakened against the dollar,
\ntracking a softer euro as data pointed to weak growth in that
\nregion.<\/p>\n

<\/span><\/p>\n

The yield for the benchmark three-year bond fell
\n6.5 basis points on the day to 6.4 percent, a two month low, and
\nthat for the 14-year paper closed 4.5 basis points
\nlower at 8.135 percent.<\/p>\n

<\/span><\/p>\n

Earlier, South Africa’s Treasury sold a total of 2.1 billion
\nrand of its 2021, 2026 and 2041
\nbonds, with bid-to-over ratios of 3.51, 2.13 and 2.98
\nrespectively.<\/p>\n

<\/span><\/p>\n

“We had a reasonably strong auction today and it looks like
\nthere’s a lot of foreign support again for the market, obviously
\nfollowing U.S. Treasuries as well as (German) Bunds,” a bond
\ntrader in Johannesburg said.<\/p>\n

<\/span><\/p>\n

“Globally there’s interest in fixed income and that’s our
\nstory for the day. It’s got a bit of momentum and we should be
\nable to maintain (the rally) for the rest of the week.”<\/p>\n

<\/span><\/p>\n

Traders said demand was still anchored on prospects of South
\nAfrican debt being included in Citi’s World Government Bond
\nIndex later this year, a move which could potentially trigger
\nbillions of dollars worth of portfolio flows.<\/p>\n

<\/span><\/p>\n

The bond rally however failed to boost the rand,
\nwhich retreated from earlier one-month highs in line with a
\nweaker euro as data reinforced fears of a slowdown in Europe, a
\nkey market for South African exports.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* Weekly government bond auction well supported * Rand tracks euro weaker as growth worries bite JOHANNESBURG May 2 (Reuters) – South African government bonds rallied on Wednesday and yields fell on strong demand from foreign accounts but the rand weakened against the dollar, tracking a softer euro as data pointed to weak growth in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-10423","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=10423"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10423\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}