{"id":14863,"date":"2012-09-22T04:43:32","date_gmt":"2012-09-22T02:43:32","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/s-africa-bonds-extend-gains-on-dovish-cbank-rand-up\/"},"modified":"2012-09-22T04:43:32","modified_gmt":"2012-09-22T02:43:32","slug":"s-africa-bonds-extend-gains-on-dovish-cbank-rand-up","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-bonds-extend-gains-on-dovish-cbank-rand-up\/","title":{"rendered":"S.Africa bonds extend gains on dovish cbank, rand up"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, Sept 21<\/span> (Reuters) &#8211; South Africa&#8217;s government<br \/>\nbonds extended the previous day&#8217;s gains on Friday, pulling<br \/>\nyields to 1-1\/2 week lows as market players bet on rates staying<br \/>\nat multi-decade lows for some time after a dovish central bank<br \/>\npolicy statement.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>The rand gained as much as 1 percent against the dollar,<br \/>\npartly tracking a stronger euro, although lingering labour<br \/>\nunrest in the mining sector could come back to haunt the local<br \/>\ncurrency.<\/p>\n<p><span><\/span><\/p>\n<p>The yield on the three year benchmark fell four<br \/>\nbasis points to end the week at 5.37 percent while the<br \/>\nlonger-dated 2026 issues was down eight basis points at 7.445<br \/>\npercent.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;There&#8217;s been reasonably good buying of the back end-bonds<br \/>\n&#8212; generally the market is reading that the monetary policy<br \/>\ncommittee speech was more dovish than expected yesterday,&#8221;<br \/>\nsaid Mark Southworth, a bond trader at Citi.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;U.S. Treasuries are also stronger, so we&#8217;re following them<br \/>\nand the dovish-ness of the central bank Governor yesterday means<br \/>\nthat people like the 10-year area and longer.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>The Reserve Bank kept interest rates on hold as expected on<br \/>\nThursday but was downbeat on domestic growth prospects,<br \/>\nprompting some traders to price in the chance of a rate cut in<br \/>\nNovember.<\/p>\n<p><span><\/span><\/p>\n<p>The rand hit a session high of 8.2271 to the<br \/>\ndollar, and was at 8.2460 by 1611, up 0.83 percent from<br \/>\nThursday&#8217;s close.<\/p>\n<p><span><\/span><\/p>\n<p>Analysts said the currency was enjoying a reprieve following<br \/>\nresolution of a dragged-out wage dispute at Lonmin<br \/>\n that had weighed on sentiment in recent weeks, but that<br \/>\nthis might be temporary as wage-related strikes spread to other<br \/>\nmining firms.<\/p>\n<p><span><\/span><\/p>\n<p>South Africa&#8217;s financial markets will be closed on Monday<br \/>\nfor the Heritage Day public holiday.<\/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, Sept 21 (Reuters) &#8211; South Africa&#8217;s government bonds extended the previous day&#8217;s gains on Friday, pulling yields to 1-1\/2 week lows as market players bet on rates staying at multi-decade lows for some time after a dovish central bank policy statement. The rand gained as much as 1 percent against the dollar, partly tracking [&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-14863","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\/14863","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=14863"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14863\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}