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Bull Flattener Gains Momentum, 10Y facing Key Support at 9.00

SOUTH AFRICA
  • Local rates trade slightly softer at the open, paring early gains.
  • Bull flattening momentum held last week following curbed issuance and positive local political developments associated with Magashule's suspension.
  • 10Y-30Y portion of the curve was the primary source of inflows, pulling 21-23bp lower w/w while the front end remained mostly anchored.
  • 10Y must clear 9.00 to unlock more gains, 30Y is hovering around April lows at 10.75.
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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