{"id":12538,"date":"2012-07-18T12:59:14","date_gmt":"2012-07-18T10:59:14","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/s-africa-bond-yields-ease-before-inflation-data\/"},"modified":"2012-07-18T12:59:14","modified_gmt":"2012-07-18T10:59:14","slug":"s-africa-bond-yields-ease-before-inflation-data","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-bond-yields-ease-before-inflation-data\/","title":{"rendered":"S.Africa bond yields ease before inflation data"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* R186\/R157 spread drops to two-month low<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* June inflation data due at 0800 GMT<\/p>\n<p><span><\/span><\/p>\n<p>* Retail sales number at 1100 GMT<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, July 18 (Reuters) &#8211; South African government<br \/>\nbond yields tracked lower on Wednesday, pushed down by more<br \/>\noffshore buying and domestic market expectations of a moderation<br \/>\nin inflation that may allow the central bank room to cut<br \/>\ninterest rates this year.<\/p>\n<p><span><\/span><\/p>\n<p>The rand was slightly weaker at 8.1872\/dolar at<br \/>\n0630 GMT compared to a 8.1685 close in New York, and dealers<br \/>\nsaid it would trade in a 8.16-8.24 range ahead of a central bank<br \/>\ninterest rate decision on Thursday.<\/p>\n<p><span><\/span><\/p>\n<p>The yield on the benchmark 2026 bond dropped to<br \/>\n7.41 percent, its lowest since January 2009, while the<br \/>\nthree-year and nine-year bonds were close to<br \/>\nTuesday&#8217;s record lows at 5.68 percent and 6.765 percent<br \/>\nrespectively.<\/p>\n<p><span><\/span><\/p>\n<p>The yield differential between the two benchmarks &#8211; the<br \/>\nR186\/R157 spread &#8211; narrowed to 170 basis points, levels last<br \/>\nseen two months ago, as offshore pension funds showed a<br \/>\npreference for the higher-yielding back end of the curve.<\/p>\n<p><span><\/span><\/p>\n<p>Adding to the rally in the long-maturity bonds is<br \/>\ngovernment&#8217;s cancellation in the past two weeks of its weekly<br \/>\nswitch auctions, where it exchanges paper maturing in two years<br \/>\nfor bonds at the longer end of the curve.<\/p>\n<p><span><\/span><\/p>\n<p>The move has caused a relief rally at the longer end, which<br \/>\nwas previously weighed by oversupply concerns.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* R186\/R157 spread drops to two-month low * June inflation data due at 0800 GMT * Retail sales number at 1100 GMT JOHANNESBURG, July 18 (Reuters) &#8211; South African government bond yields tracked lower on Wednesday, pushed down by more offshore buying and domestic market expectations of a moderation in inflation that may allow the [&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-12538","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\/12538","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=12538"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12538\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}