{"id":8629,"date":"2012-03-07T02:56:56","date_gmt":"2012-03-07T00:56:56","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/s-africa-bond-yields-at-1-month-highs-rand-drags-prices\/"},"modified":"2012-03-07T02:56:56","modified_gmt":"2012-03-07T00:56:56","slug":"s-africa-bond-yields-at-1-month-highs-rand-drags-prices","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-bond-yields-at-1-month-highs-rand-drags-prices\/","title":{"rendered":"S.Africa bond yields at 1 month highs, rand drags prices"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Bonds dragged down by rand, coupon payments should support<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Rand at 1 week low vs dollar, outlook positive<\/p>\n<p><span><\/span><\/p>\n<p>By Xola Potelwa<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, March 6 (Reuters) &#8211; The rand fell<br \/>\nagainst the dollar on Tuesday, reflecting weakness in emerging<br \/>\nmarket currencies as investors fret about the euro zone debt<br \/>\ncrisis and global growth, driving government bond yields to<br \/>\none-month highs even after a strong debt auction.<\/p>\n<p><span><\/span><\/p>\n<p>The short to medium term outlook for the currency and bonds<br \/>\nwas seen as positive, however, as carry trades are expected to<br \/>\nsupport the high-yielding rand while March bond coupon payments<br \/>\nshould find their way back to cushion the debt market.<\/p>\n<p><span><\/span><\/p>\n<p>The government benchmark 2015 bond yield added 3<br \/>\nbasis points to 6.71 percent while the 2026 yield<br \/>\nclimbed 2.5 basis points to 8.315 percent, levels last seen<br \/>\ntowards the end of January.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Euro weakness and subsequent rand weakness has pushed<br \/>\nyields to three-week highs, (however) March is a big coupon<br \/>\nmonth which should support in the weeks ahead,&#8221; said Steve<br \/>\nArnold, a bond trader at Investec Bank.<\/p>\n<p><span><\/span><\/p>\n<p>Yields on government bonds sold at auction earlier on<br \/>\nTuesday fell after the sale as secondary market demand pushed<br \/>\nprices higher, especially on the 2021 bond, which<br \/>\nattracted bids worth four times the amount of debt on offer.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Seen in the context of a relatively quiet market, the<br \/>\nstrong result is quite positive. We believe fiscal data has<br \/>\nsupported a bond-bullish view, though it has not really come<br \/>\nthrough in general price action yet,&#8221; Leon Myburgh, sub-Sahara<br \/>\nstrategist at Citi bank in Johannesburg, said in a note.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Bonds dragged down by rand, coupon payments should support * Rand at 1 week low vs dollar, outlook positive By Xola Potelwa JOHANNESBURG, March 6 (Reuters) &#8211; The rand fell against the dollar on Tuesday, reflecting weakness in emerging market currencies as investors fret about the euro zone debt crisis and global growth, driving [&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-8629","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\/8629","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=8629"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8629\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}