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SAGBs Tread Water as Tentative Risk Sentiment Filters Through from APAC

SOUTH AFRICA
  • SAGBs tread water at the open as slightly firmer risk sentiment filters through from the APAC session following yesterday’s 1% FX RRR cut from the PBoC.
  • 10-30Y yields closed yesterday’s session +3.7-5.0bp higher with the 15Y most offered.
  • Key resistance in the 10Y stands at 10.323 & 10.929 in the 30Y, while support is defined at 10.20 & 10.80.
  • SA’s 5Y CDS has been grinding higher since the start of the month – rising +28.84bp to hover just shy of the 240 level.

MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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