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10Y Yields Approach September 2020 Levels; Focus Shifts to US/China CPI Data

SOUTH AFRICA
  • SAGBs stand little changed around the open, despite tentatively firmer global risk sentiment this morning.
  • SAGB yields rose +7.5-12.5bp across the breadth with the 5Y most offered on the day. 10Y yields pushed through the 10.50 mark (+11.3bp) to fall just shy of 10.60, while the 30Y drifted above the 11.00 handle.
  • 10Y yields now trade just shy of the September 2020 highs and should continue to move in step with USTs and broad global risk sentiment as we receive US/China CPI & PPI data tomorrow.

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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