{"id":13876,"date":"2012-08-25T03:10:43","date_gmt":"2012-08-25T01:10:43","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/s-african-rand-bonds-fall-on-euro-weakness-risk-concerns\/"},"modified":"2012-08-25T03:10:43","modified_gmt":"2012-08-25T01:10:43","slug":"s-african-rand-bonds-fall-on-euro-weakness-risk-concerns","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-african-rand-bonds-fall-on-euro-weakness-risk-concerns\/","title":{"rendered":"S.African rand, bonds fall on euro weakness, risk concerns"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Aug 24 (Reuters) &#8211; South Africa&#8217;s bonds fell<br \/>\nand the rand weakened against the dollar on Friday, tracking a<br \/>\nweaker euro and also weighed by lingering political risk<br \/>\nconcerns in the wake of the recent violence at Lonmin&#8217;s Marikana<br \/>\nmine which left 44 people dead.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>The yield on the benchmark bond due in 2015<br \/>\nclimbed 8.5 basis points to 5.57 percent and that for 14-year<br \/>\npaper jumped 10 basis points to 7.565 percent.<\/p>\n<p><span><\/span><\/p>\n<p>The rand lost as much as 1.2 percent against the dollar<br \/>\nduring the session and was at 8.3950 by 1553 GMT, down 0.87<br \/>\npercent from Thursday&#8217;s close at 8.3225.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Market concern following the Marikana mine tragedy has<br \/>\nrisen as evidenced by higher CDS (credit default swaps) and a<br \/>\nsell-off of South African external debt relative to similarly<br \/>\nrated peers,&#8221; Bank of America Merrill Lynch analyst Matthew<br \/>\nSharratt said in a note.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Further evidence of an upsurge in violent protest would be<br \/>\na negative development for South Africa and raise the risk of a<br \/>\nratings downgrade given the agencies&#8217; current negative<br \/>\noutlooks.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Earlier on Friday, rating agency Fitch said the violence at<br \/>\nMarikana highlighted structural problems which may weigh on<br \/>\nSouth Africa&#8217;s sovereign rating in the long term.<\/p>\n<p><span><\/span><\/p>\n<p>Charts point to continued rand weakness, with the currency<br \/>\npresently trading above its short-, medium- and long-term moving<br \/>\naverages. Analysts see another test of its late July low of 8.50<br \/>\nsupport in the third quarter.<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG Aug 24 (Reuters) &#8211; South Africa&#8217;s bonds fell and the rand weakened against the dollar on Friday, tracking a weaker euro and also weighed by lingering political risk concerns in the wake of the recent violence at Lonmin&#8217;s Marikana mine which left 44 people dead. The yield on the benchmark bond due in 2015 [&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-13876","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\/13876","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=13876"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13876\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}