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2Y Yields Lead Bull Steepening Momentum in SAGBs

SOUTH AFRICA
  • Local rates open slightly firmer this morning with the 2Y hovering -1bp lower in line with slightly more positive risk sentiment out of the APAC session.
  • Last week, the local curve closed with a marginal bull steepening bias, led lower by the 2Y (-16.7bp w/w).
  • 2Y yields now trade a fraction above 5.15 support, with the next major level to the downside seen at 5.05
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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