{"id":7404,"date":"2012-01-26T21:12:52","date_gmt":"2012-01-26T19:12:52","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/s-africa-rand-bonds-hit-2012-highs-on-global-risk-rally\/"},"modified":"2012-01-26T21:12:52","modified_gmt":"2012-01-26T19:12:52","slug":"s-africa-rand-bonds-hit-2012-highs-on-global-risk-rally","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-rand-bonds-hit-2012-highs-on-global-risk-rally\/","title":{"rendered":"S.Africa rand, bonds hit 2012 highs on global risk rally"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Rand makes convincing break past 7.90 vs dollar<\/span><\/p>\n

<\/span><\/p>\n

* Bond yields at two month lows<\/p>\n

<\/span><\/p>\n

JOHANNESBURG<\/span> Jan 26 (Reuters) – The rand neared a
\nthree-month high against the dollar on Thursday, breaking
\nthrough tough resistance as a global risk rally saw investors
\nturn to higher-yielding assets, pushing South Africa bond yields
\ndown 19 basis points as well.<\/p>\n

<\/span><\/p>\n

Global markets were buoyed by positive data out of the
\nUnited States and signals from the U.S. Federal Reserve that
\ninterest rates would remain near zero for another few years.<\/p>\n

<\/span><\/p>\n

The rand gained 1.4 percent against the dollar to
\n7.7785 on the day, a level last seen on Oct. 31. The local unit
\nhas broken through 8 rand to the dollar and then 7.90 resistance
\nthis week but could have its gains capped by good two-way
\ninterest.<\/p>\n

<\/span><\/p>\n

“There are lots of importers around and probably
\nsome exporter panic as well so activity is quite decent,” said
\nIon de Vleeschauwer, dealer at Bidvest Bank.<\/p>\n

<\/span><\/p>\n

“I think the South African Reserve Bank will probably buy
\nsome dollars at these kind of levels as well to prop up their
\nreserves, but overwhelming positive news is just forcing the
\nrand continually stronger despite all the importer demand,” de
\nVleeschauwer added.<\/p>\n

<\/span><\/p>\n

Market players speculated the central bank had been in the
\nmarket to build up its dollar reserves, prompting the rand to
\nretreat from its highest levels but the amounts were
\ninsignificant and the move was countered by risk-on sentiment.<\/p>\n

<\/span><\/p>\n

Bond yields fell to two-month lows as prices rallied in
\ntandem with the currency.<\/p>\n

<\/span><\/p>\n

“The bond market has been a little crazy, rallying by just
\nunder 20 points today and the curve is heading back to where it
\nstarted the year – steeper,” a local bond dealer said.<\/p>\n

<\/span><\/p>\n

The yield on the 2015 bond ended at 6.465 percent,
\ndown from 6.65 percent on Wednesday while the longer 2026 issue
\n ended at 8.215, down from 8.36 percent previously.\t<\/p>\n

(Reporting by Xola Potelwa; Editing by Susan Fenton)<\/p>\n

<\/span><\/p>\n

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

* Rand makes convincing break past 7.90 vs dollar * Bond yields at two month lows JOHANNESBURG Jan 26 (Reuters) – The rand neared a three-month high against the dollar on Thursday, breaking through tough resistance as a global risk rally saw investors turn to higher-yielding assets, pushing South Africa bond yields down 19 basis […]<\/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-7404","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\/7404","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=7404"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7404\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}