{"id":16444,"date":"2012-11-06T20:37:15","date_gmt":"2012-11-06T18:37:15","guid":{"rendered":"http:\/\/www.myza.co.za\/11\/south-africas-rand-firms-after-bonds-sale\/"},"modified":"2012-11-06T20:37:15","modified_gmt":"2012-11-06T18:37:15","slug":"south-africas-rand-firms-after-bonds-sale","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/south-africas-rand-firms-after-bonds-sale\/","title":{"rendered":"South Africa&#8217;s rand firms after bonds sale"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Nov 6 (Reuters) &#8211; South Africa&#8217;s rand firmed<br \/>\nagainst the dollar on Tuesday after a well-received bond auction<br \/>\nand was expected to trade in a narrow range until investors know<br \/>\nwho will be U.S. president.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>The rand was at 8.6599 to the dollar at 1554 GMT, up 0.8<br \/>\npercent from Monday&#8217;s New York close as a cautious market awaits<br \/>\nthe result of a close race between President Barack Obama and<br \/>\nRepublican challenger Mitt Romney.<\/p>\n<p><span><\/span><\/p>\n<p>South Africa&#8217;s Treasury sold a total of 2.1 billion rand of<br \/>\nits 2031, 2036 and 2048<br \/>\ngovernment bonds on Tuesday.<\/p>\n<p><span><\/span><\/p>\n<p>Bid-to-cover ratios ranging from 2.1 to 3.8 and a stronger<br \/>\ncurrency shored up government bonds, with the yield on the<br \/>\nbenchmark 2026 bond five basis points lower at 7.645<br \/>\npercent and that on the 2015 paper down 0.5 basis points at<br \/>\n5.475 percent.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Generally, bond yields at current levels are offering<br \/>\nreasonable value and I would expect them to trend downwards,&#8221;<br \/>\nsaid Jonathan Myerson, head of fixed income at Cadiz Asset<br \/>\nManagement.<\/p>\n<p><span><\/span><\/p>\n<p>The rand has traded in a range of between 8.65 and 8.80<br \/>\nsince the start of the week.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The main thing is the outcome of the U.S. election,&#8221; said<br \/>\nPaul Chakaduka, a trader at Global Trader. &#8220;Everything else in<br \/>\nbetween could become almost irrelevant.&#8221;<\/p>\n<p> (Reporting by Tosin Sulaiman; Editing by Ruth Pitchford)<\/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 Nov 6 (Reuters) &#8211; South Africa&#8217;s rand firmed against the dollar on Tuesday after a well-received bond auction and was expected to trade in a narrow range until investors know who will be U.S. president. The rand was at 8.6599 to the dollar at 1554 GMT, up 0.8 percent from Monday&#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-16444","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\/16444","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=16444"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/16444\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=16444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=16444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=16444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}