{"id":11168,"date":"2012-06-06T22:57:13","date_gmt":"2012-06-06T20:57:13","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/s-africas-rand-jumps-to-week-high-bonds-also-rally\/"},"modified":"2012-06-06T22:57:13","modified_gmt":"2012-06-06T20:57:13","slug":"s-africas-rand-jumps-to-week-high-bonds-also-rally","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-jumps-to-week-high-bonds-also-rally\/","title":{"rendered":"S.Africa’s rand jumps to week-high, bonds also rally"},"content":{"rendered":"

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

* Rand resistance seen 8.30 on euro uncertainty<\/span><\/p>\n

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

* Bonds strengthen, yields at 2-1\/2 week lows<\/p>\n

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

JOHANNESBURG, June 6<\/span> (Reuters) – South Africa’s rand rallied
\n1.5 percent against the dollar on Wednesday as investors
\nwelcomed European efforts to pull Spain out of its debt crunch,
\nbut continued worries about euro zone debt problems should cap
\nany further significant gains.<\/p>\n

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

Government bonds followed suit, with strong demand seen
\nparticularly on the longer end of the curve, narrowing the yield
\nspread on the three and 14-year benchmarks from recent highs.<\/p>\n

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

The yield for the bond due in 2015 shed seven
\nbasis points to 6.27 percent while that for the 14-year paper
\n fell 11 basis points to close at a 2-1\/2 week low of
\n8.29 percent.<\/p>\n

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

“(The bond rally) is mainly in response to speculation that
\nEuropean economies may be coming up with some sort of response
\nto the euro zone crisis so you’re seeing the euro recover and
\nthe rand recover and that’s giving a bit of support to bonds,”
\nRenaissance BJM bond trader Alvin Chawasema said.<\/p>\n

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

“The R186\/R157 spread had widened to around 205 points and
\nhas come back to about 202 points. Investors are looking at
\npicking up some stock at the longer end of the curve, probably
\ntaking advantage of the wider levels that the spread had
\nreached.”<\/p>\n

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

The rand notched its third consecutive daily gain
\nagainst the greenback, touching a week’s high of 8.3070.<\/p>\n

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

It was at 8.3095 by 1612 GMT, up 1.49 percent from Tuesday’s
\nclose at 8.4350, and making it the fourth strongest performer in
\na basket of 20 emerging market currencies monitored by Reuters.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

* Rand resistance seen 8.30 on euro uncertainty * Bonds strengthen, yields at 2-1\/2 week lows JOHANNESBURG, June 6 (Reuters) – South Africa’s rand rallied 1.5 percent against the dollar on Wednesday as investors welcomed European efforts to pull Spain out of its debt crunch, but continued worries about euro zone debt problems should cap […]<\/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-11168","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\/11168","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=11168"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11168\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}