{"id":15840,"date":"2012-10-24T20:03:08","date_gmt":"2012-10-24T18:03:08","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/s-africa-bonds-weaker-as-inflation-rises\/"},"modified":"2012-10-24T20:03:08","modified_gmt":"2012-10-24T18:03:08","slug":"s-africa-bonds-weaker-as-inflation-rises","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-bonds-weaker-as-inflation-rises\/","title":{"rendered":"S.Africa bonds weaker as inflation rises"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Oct 24 (Reuters) &#8211; South African government<br \/>\nbonds were weaker on Wednesday after higher-than-expected<br \/>\ninflation data, while the rand stayed in a narrow range as the<br \/>\nmarket awaits the medium-term budget policy statement (MTBPS) on<br \/>\nThursday.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>The rand was at 8.7650 to the dollar at 1534 GMT,<br \/>\nbarely changed from Tuesday&#8217;s New York close, after dipping as<br \/>\nlow as 8.8250.<\/p>\n<p><span><\/span><\/p>\n<p>The yield on the benchmark 3-year bond rose 5 basis points<br \/>\nto 5.46 percent while that on 14-year paper gained 6 basis<br \/>\npoints to 7.71 percent.<\/p>\n<p><span><\/span><\/p>\n<p>South Africa&#8217;s headline consumer price inflation accelerated<br \/>\nto 5.5 percent year-on-year in September, from 5 percent in<br \/>\nAugust, Statistics South Africa said on Wednesday. Economists<br \/>\nhad expected prices to rise by 5.2 percent.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;There&#8217;s definitely a weakness in the market because of the<br \/>\nworse-than-expected inflation print,&#8221; said Garth Klintworth,<br \/>\nhead of fixed income, commodities and currencies at Absa<br \/>\nCapital.<\/p>\n<p><span><\/span><\/p>\n<p>He said the rand was likely to remain on the back foot ahead<br \/>\nof Finance Minister Pravin Gordhan&#8217;s budget statement on<br \/>\nThursday due in part to concerns about an increase in social<br \/>\nspending.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;It&#8217;s just how expansionary will the budget be,&#8221; he said. &#8220;I<br \/>\nthink people are potentially questioning the minister&#8217;s<br \/>\ncredibility. For so many budgets he&#8217;s presented fantastic<br \/>\nnumbers but we haven&#8217;t been able to live up to any of them.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Klintworth said the rand should trade in the 8.70-9.00 range<br \/>\nfor the rest of the week.    <\/p>\n<p> (Reporting by Tosin Sulaiman; editing by Stephen Nisbet)<\/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 Oct 24 (Reuters) &#8211; South African government bonds were weaker on Wednesday after higher-than-expected inflation data, while the rand stayed in a narrow range as the market awaits the medium-term budget policy statement (MTBPS) on Thursday. The rand was at 8.7650 to the dollar at 1534 GMT, barely changed from Tuesday&#8217;s New York close, [&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-15840","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\/15840","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=15840"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15840\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}