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10Y Selling Pressure Outstrips the Rest of the Curve

SOUTH AFRICA
  • Local rates kick off the day slightly on the front foot, following on from firmer risk sentiment out of APAC to pull back some of yesterday's losses.
  • The curve bear steepened slightly in yesterday's session as US Treasury yields drifted higher into the back end of yesterday's session.
  • SA's local curve remains humped around the 5-10Y section w/w, with 10Y yields vulnerable to bouts of UST-induced risk-off/on.
  • W/w the 10Y trades +55bp higher, while the rest of the curve hovers around +10bp showing a greater degree of resilience to near-term volatility.
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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