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3x6 FRA-Jibar Spreads Narrow as Markets Reduce Rate Hike Bets

SOUTH AFRICA
  • Forward rates have fallen sharply this morning following the news of a new variant of concern and travel bans ahead of SA's peak tourism season.
  • 3x6-FRA-Jibar spreads have narrowed -19bp, falling from +52bp to +33bp in rapid fashion as growth concerns weigh
  • USD/ZAR stands +2% higher, SAGBs +18-20bp bear steeper & stocks -1.13% lower with rand hedges propping up the index.
  • 3x6 FRA-Jibar Spread


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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