{"id":6082,"date":"2011-12-14T00:14:44","date_gmt":"2011-12-13T22:14:44","guid":{"rendered":"http:\/\/www.myza.co.za\/12\/s-african-bonds-not-convinced-by-rands-firmer-bias\/"},"modified":"2011-12-14T00:14:44","modified_gmt":"2011-12-13T22:14:44","slug":"s-african-bonds-not-convinced-by-rands-firmer-bias","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-african-bonds-not-convinced-by-rands-firmer-bias\/","title":{"rendered":"S.African bonds not convinced by rand&#8217;s firmer bias"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand slightly firmer vs dollar but within range<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Govt bonds weak, yields rise for seventh day<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Dec 13 (Reuters) &#8211; The rand firmed<br \/>\nslightly against the dollar on Tuesday but stayed within a<br \/>\nrecent range and was above key levels that would signal further<br \/>\ngains, while government bonds were at two-week lows in thin<br \/>\nconditions, with news from Europe the main driver.<\/p>\n<p><span><\/span><\/p>\n<p>Analysts say bonds are following moves in the rand but will<br \/>\nnot buy into its current strength until gains are shown to be<br \/>\nsustainable, with thin volumes adding to pressure on yields.<\/p>\n<p><span><\/span><\/p>\n<p>The rand traded between 8.19 and 8.29 during the<br \/>\nsession and was 0.3 percent firmer at 8.2450 at 1540 GMT.<\/p>\n<p><span><\/span><\/p>\n<p>The 8.18\/20 level will provide some resistance to any rand<br \/>\ngains and 8.32 offers support, which if broken may open up the<br \/>\nprevious 8.46 low and then the currency&#8217;s 2011 low of 8.61.<\/p>\n<p><span><\/span><\/p>\n<p>The rand, which serves as a barometer for risk, has been<br \/>\ntrading according to moves on the euro\/dollar and changes in<br \/>\nrisk sentiment and dealers say they are beholden to headlines<br \/>\nout of the euro region for the time being.<\/p>\n<p><span><\/span><\/p>\n<p>Yields on South Africa&#8217;s benchmark bonds rose for the<br \/>\nseventh consecutive session, adding 4.5 basis points to 6.89<br \/>\npercent on the 2015 bond and 5 basis points to 8.62<br \/>\npercent on the 2026 issue.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;I think we are tracking the rand more than anything else.<br \/>\nBond yields are also rising, largely due to no liquidity, and<br \/>\nalso weighing on the market was a poor auction,&#8221; said Richard<br \/>\nFarber, a bond dealer at WWC Securities in Johannesburg.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand slightly firmer vs dollar but within range * Govt bonds weak, yields rise for seventh day JOHANNESBURG Dec 13 (Reuters) &#8211; The rand firmed slightly against the dollar on Tuesday but stayed within a recent range and was above key levels that would signal further gains, while government bonds were at two-week lows [&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-6082","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\/6082","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=6082"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6082\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}