{"id":11118,"date":"2012-06-05T22:53:36","date_gmt":"2012-06-05T20:53:36","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/s-african-rand-firmer-bonds-gain-after-auction\/"},"modified":"2012-06-05T22:53:36","modified_gmt":"2012-06-05T20:53:36","slug":"s-african-rand-firmer-bonds-gain-after-auction","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-african-rand-firmer-bonds-gain-after-auction\/","title":{"rendered":"S.African rand firmer, bonds gain after auction"},"content":{"rendered":"

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

* Rand needs to break 8.3 for sustained rally<\/span><\/p>\n

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

* Bonds edge up, Treasury could list new paper soon<\/p>\n

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

JOHANNESBURG, June 5<\/span> (Reuters) – The South African rand
\ntouched a four-day high against the dollar on Tuesday and
\ngovernment bonds closed firmer, pushing yields lower after a
\nwell supported weekly Treasury auction.<\/p>\n

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

Bonds held their ground despite news that the Treasury
\nmay issue five new bonds as early as this week, helping to plug
\na 10-year benchmark gap and extend the government yield curve by
\na further seven years.<\/p>\n

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

South Africa’s recent promotion into a major bond index has
\n fed interest among international investors in Africa’s largest
\neconomy and biggest debt market.<\/p>\n

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

The rand climbed to 8.4152\/dollar, its strongest
\nlevel since May 30, but retreated to 8.4450 by 1524 GMT, a gain
\nof 0.54 percent over Monday’s 8.4910 close.<\/p>\n

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

“The rand has performed very well today, strengthening from
\nthe lower 8.50’s area to the lower 8.40’s. There seems to be
\nsome steadying in the market,” RMB trader Jim Bryson said.<\/p>\n

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

“The rand was really very oversold up towards 8.70, but we
\nare still very much euro-dependent. We would have to get through
\nthe lower 8.30’s to totally change the overall tack and take the
\npressure off completely.”<\/p>\n

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

The rand has regained some of its poise this week after a
\nsharp decline to a three-year low last week, which capped losses
\nof nearly 9 percent in May as investors fretted that debt
\nproblems bedevilling euro nations could hurt global growth.<\/p>\n

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

Government bonds gained alongside the rand, partly boosted
\nby an auction earlier where the Treasury sold five-year, 24-year
\nand 29-year paper, attracting bid-to-cover ratios as high as
\n4.29.<\/p>\n

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

Benchmark yields ended lower, with the three year paper
\n edging down 2.5 basis points to 6.34 percent while the
\nequally heavily traded 14-year issue dipped half a
\nbasis point to 8.4 percent.\t<\/p>\n

(Reporting by Stella Mapenzauswa; Editing by Ruth Pitchford)<\/p>\n

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

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

* Rand needs to break 8.3 for sustained rally * Bonds edge up, Treasury could list new paper soon JOHANNESBURG, June 5 (Reuters) – The South African rand touched a four-day high against the dollar on Tuesday and government bonds closed firmer, pushing yields lower after a well supported weekly Treasury auction. Bonds held their […]<\/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-11118","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\/11118","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=11118"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11118\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}