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Demand Falls at Auction After Bumper Week, 2037s Top Performer

SOUTH AFRICA

Auction Results:

  • Sells 2.2B Rand of 8.25% 2032 Bonds; Bid-Cover 3.1x (4.85x), Avg yield 9.4% (9.44%)
  • Sells 2.2B Rand of 8.5% 2037 Bonds; Bid-Cover 3.94x (5.42x), Avg yield 10.38% (10.425%)
  • Sells 2.2B Rand of 8.75% 2044 Bonds; Bid-Cover 3.21x, Avg yield 10.63%


Notable decline in demand across the auction, Given bumper demand last week - but still decent demand for 2037s.

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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