{"id":11515,"date":"2012-06-15T23:23:52","date_gmt":"2012-06-15T21:23:52","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/s-africa-bonds-rally-long-dated-bonds-get-reprieve\/"},"modified":"2012-06-15T23:23:52","modified_gmt":"2012-06-15T21:23:52","slug":"s-africa-bonds-rally-long-dated-bonds-get-reprieve","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-bonds-rally-long-dated-bonds-get-reprieve\/","title":{"rendered":"S.Africa bonds rally, long-dated bonds get reprieve"},"content":{"rendered":"

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

* Back end of yield curve rallies<\/span><\/p>\n

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

* Rand ends flat, dealers shy away from positions<\/p>\n

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

JOHANNESBURG, June 15<\/span> (Reuters) – South African government
\nbonds firmed on Friday and the back end of the yield curve
\nrallied as pressure lifted from longer-dated bonds, while
\ndealers squared positions on the rand ahead of a key Greek
\nelection on Sunday.<\/p>\n

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

The longest maturity bond dropped 11 basis points to 8.73
\npercent while the three-year benchmark gave up four
\nbasis points to 6.10 percent.<\/p>\n

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

The R186\/R157 spread came off 5.5 basis points to end at 202
\nbasis points with the longer yields recovering from heavy
\nselling this week driven by oversupply concerns from the
\nTreasury’s switch auctions.<\/p>\n

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

“The yield curve took a lot of pain over the last week.
\nTreasury’s auctions were partly successful but the curve was
\npushed a little too far,” said Steve Arnold, a bond trader at
\nInvestec.<\/p>\n

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

The recovery was also supported by next week’s issuance
\nplans where the treasury will issue in the middle of the yield
\ncurve, giving some respite to longer-dated paper which has
\nfeatured heavily in recent auctions.<\/p>\n

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

“The bonds on offer are all belly stock so Treasury might
\nhang off issuing longer-dated bonds in the Tuesday auction while
\nthey grow the size of the new 2023 bond.”<\/p>\n

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

The government announced it will issue some of its new
\n11-year bond along with 2017 and 2021 paper on
\nTuesday.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

* Back end of yield curve rallies * Rand ends flat, dealers shy away from positions JOHANNESBURG, June 15 (Reuters) – South African government bonds firmed on Friday and the back end of the yield curve rallied as pressure lifted from longer-dated bonds, while dealers squared positions on the rand ahead of a key Greek […]<\/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-11515","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\/11515","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=11515"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11515\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}