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2Y Retains Bullish Momentum, Hovering Around 5.00 Support

SOUTH AFRICA
  • SAGBs open slightly weaker this morning with 10-30Y yields +1.8bp higher, following yesterday’s mostly firmer session.
  • Again, 2Y & 30Y yields led the way lower, falling -4.9 & 3.8bp respectively. 2Y yields are now hovering around the 5.00 handle, having fallen -57bp since the start of November.
  • W/w the SAGB curve trades mostly mixed with the exception of 2Y yields, which have shifted -34bp lower on week following the discovery of the Omicron variant.
  • SA’s 5Y CDS also fell -10.75bp in yesterday’s session, pulling back from the 250 handle.

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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