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30Y SAGB Looking Vulnerable after taking out 10.80; CDS Ticks Higher

SOUTH AFRICA
  • bear steepening in local rates accelerates on broad risk aversion
  • 30Y looking most vulnerable (+7.8bp) after taking out 10.80 resistance
  • may look to drift towards 11.00
  • 5Y CDS ticking higher towards 21 Dec highs around 315
  • 1Y SA Basis swaps trading near Nov 24 highs at 100.00
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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