{"id":11482,"date":"2012-06-14T23:21:25","date_gmt":"2012-06-14T21:21:25","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/s-africas-bonds-end-firmer-rand-recovers\/"},"modified":"2012-06-14T23:21:25","modified_gmt":"2012-06-14T21:21:25","slug":"s-africas-bonds-end-firmer-rand-recovers","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-bonds-end-firmer-rand-recovers\/","title":{"rendered":"S.Africa&#8217;s bonds end firmer, rand recovers"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Bonds yields down, relief after switch auction<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Govt swaps nearly 6 bln rand into 2026 and 2041 paper<\/p>\n<p><span><\/span><\/p>\n<p>* Rand recovers as risk aversion declines<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, June 14 (Reuters) &#8211; South African government<br \/>\nbonds ended firmer on Thursday, reversing earlier weakness with<br \/>\nthe market relieved after a smaller-than-expected switch auction<br \/>\nand as global risk aversion abated and the rand came off its<br \/>\nworst levels in the afternoon.<\/p>\n<p><span><\/span><\/p>\n<p>The three-year yield hit a fresh record low of<br \/>\n6.14 percent and dealers say there is scope for the yield to<br \/>\npull lower as rate cut expectations start to build.<\/p>\n<p><span><\/span><\/p>\n<p>The 14-year paper was at 8.22 percent while the<br \/>\nlongest-maturity 2041 yield dropped to a 5-week low as supply<br \/>\npressures lifted.<\/p>\n<p><span><\/span><\/p>\n<p>Government switched close to 6 billion rand ($712.53<br \/>\nmillion) of the 2014 bond, compared to an initial<br \/>\nguidance of 10 billion rand, into the 2026 and 2041 paper as it<br \/>\nrolls over soon-maturing bonds into longer-dated bonds.<\/p>\n<p><span><\/span><\/p>\n<p>Only two billion rand was switched into the 2041 bond at the<br \/>\ntail end of the yield curve.<\/p>\n<p><span><\/span><\/p>\n<p>Dealers had been concerned about the amount of stock on the<br \/>\nback end of the curve, which, together with expectations of<br \/>\nlower interest rates, had pushed the R186\/R157 spread to a<br \/>\nrecord 209 basis points.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Bonds yields down, relief after switch auction * Govt swaps nearly 6 bln rand into 2026 and 2041 paper * Rand recovers as risk aversion declines JOHANNESBURG, June 14 (Reuters) &#8211; South African government bonds ended firmer on Thursday, reversing earlier weakness with the market relieved after a smaller-than-expected switch auction and as global [&hellip;]<\/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-11482","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\/11482","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=11482"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11482\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}