{"id":12310,"date":"2012-07-11T12:28:33","date_gmt":"2012-07-11T10:28:33","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/bond-inflows-support-s-africas-rand\/"},"modified":"2012-07-11T12:28:33","modified_gmt":"2012-07-11T10:28:33","slug":"bond-inflows-support-s-africas-rand","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/bond-inflows-support-s-africas-rand\/","title":{"rendered":"Bond inflows support S.Africa&#8217;s rand"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Offshore bond flows prop up rand against dollar<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Treasury to announce issuance plans at 0900 GMT<\/p>\n<p><span><\/span><\/p>\n<p>* June business confidence due at 0930 GMT<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, July 11 (Reuters) &#8211; South African government<br \/>\nbonds hit fresh record highs early on Wednesday, supported by<br \/>\npersistent foreign buying and local investors pricing in a<br \/>\ndovish central bank statement at a monetary policy decision next<br \/>\nweek.<\/p>\n<p><span><\/span><\/p>\n<p>The rand firmed 0.27 percent against the dollar to<br \/>\n8.1980 at 0630 GMT, compared to a 8.22 close in New York.<\/p>\n<p><span><\/span><\/p>\n<p>Dealers said although yields have plunged too quickly and<br \/>\naggressively, it was hard to call a reversal just yet as<br \/>\noffshore buying showed no signs of easing. Analysts see yields<br \/>\nconsolidating near their record lows.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;With expectations rising of a rate cut at the next week&#8217;s<br \/>\nSARB Monetary Policy Committee meeting coupled with the World<br \/>\nGovernment Bond Index in October it is a good time to own South<br \/>\nAfrica bonds,&#8221; said Warrick Butler, a trader at Standard Bank.<\/p>\n<p><span><\/span><\/p>\n<p>South African debt will be included in Citigroup&#8217;s WGBI from<br \/>\nOct. 1, the main factor underpinning the increased flows into<br \/>\nthe market.<\/p>\n<p><span><\/span><\/p>\n<p>The yield on the three-year benchmark bond, the most liquid<br \/>\ngovernment debt instrument, was at a fresh record low<br \/>\nof 5.865 percent while that on the 2021 issue hit a<br \/>\nnew low at 7.045 percent.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Offshore bond flows prop up rand against dollar * Treasury to announce issuance plans at 0900 GMT * June business confidence due at 0930 GMT JOHANNESBURG, July 11 (Reuters) &#8211; South African government bonds hit fresh record highs early on Wednesday, supported by persistent foreign buying and local investors pricing in a dovish central [&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-12310","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\/12310","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=12310"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12310\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}