{"id":15631,"date":"2012-10-17T06:02:29","date_gmt":"2012-10-17T04:02:29","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/rand-bonds-recover-on-yield-search-improving-sentiment\/"},"modified":"2012-10-17T06:02:29","modified_gmt":"2012-10-17T04:02:29","slug":"rand-bonds-recover-on-yield-search-improving-sentiment","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/rand-bonds-recover-on-yield-search-improving-sentiment\/","title":{"rendered":"Rand, bonds recover on yield search, improving sentiment"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* S.Africa longer bonds gain after auction, R186\/R157 spread<br \/>\nflattens<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Rand firms vs dollar but gains limited by strike worries<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Oct 16 (Reuters) &#8211; Yields on South African<br \/>\ngovernment bonds dropped on Tuesday as prices rose after a<br \/>\nsuccessful auction boosted investors&#8217; sentiment towards Africa&#8217;s<br \/>\nlargest economy, with the rand also strengthening for the first<br \/>\nday in three against the dollar.<\/p>\n<p><span><\/span><\/p>\n<p>Yields on 14-year benchmark bonds gave up as much<br \/>\nas 8.5 basis points to 7.71 percent while those on the shorter<br \/>\n2015 benchmark fell 4 basis points to 5.37 percent.<\/p>\n<p><span><\/span><\/p>\n<p>The R186\/R157 yield spread came back from a lifetime peak<br \/>\nhit in the previous session to trade at 232 basis points on<br \/>\nTuesday.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We had a very good auction this morning, local managers and<br \/>\noffshore took out a reasonably good size of the auction so we&#8217;ve<br \/>\nsettled around the stronger levels without really doing too much<br \/>\nafterwards,&#8221; said Mark Southworth, bond trader for Citi in<br \/>\nJohannesburg.<\/p>\n<p><span><\/span><\/p>\n<p>Government sold 2.1 billion rand between the 2023<br \/>\n, 2041 and 2048 bonds, where the<br \/>\n2023 cleared about 4 basis points stronger than market levels<br \/>\nand set the tone for stronger levels in the rest of the market.<\/p>\n<p><span><\/span><\/p>\n<p>Rating agency Standard and Poor&#8217;s cut South Africa&#8217;s credit<br \/>\nrating to BBB with a negative outlook on Friday, which had since<br \/>\npressured the longer end of the yield curve.<\/p>\n<p><span><\/span><\/p>\n<p>Dealers said offshore and local accounts were returning to<br \/>\nbuy local bonds as the storm was settling and the search for<br \/>\nyield was outweighing domestic factors.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* S.Africa longer bonds gain after auction, R186\/R157 spread flattens * Rand firms vs dollar but gains limited by strike worries JOHANNESBURG Oct 16 (Reuters) &#8211; Yields on South African government bonds dropped on Tuesday as prices rose after a successful auction boosted investors&#8217; sentiment towards Africa&#8217;s largest economy, with the rand also strengthening for [&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-15631","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\/15631","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=15631"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15631\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}