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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SOUTH AFRICA
- SAGBs open firmer this morning with 10Y yields leading the way lower at -4.3bp.
- Yesterday’s upside surprise in CPI (5.9%y/y) sparked concern of more SARB tightening in 2022 with 9x12 FRA-jibar3m spreads widening to +200bp, but also supported LT yields.
- The 30Y made a notable breakout through 10.60 and stands on key pivot support at 10.52 – bringing the 12 Nov lows at 10.30 into focus if price action can break 10.50.
- 9.80 support in the 10Y is the next focal point, followed by 9.70 to the downside.
- W/w the SAGB curve trades -18-20bp bull flatter in 15-30Y yields.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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