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Demand Slips for Linkers At Auction, 2046s Shunned

SOUTH AFRICA

Linker Auction Results:

  • Sells 575m (110m) Rand 2029 Linkers; Bid-Cover 1.61x (2.95x), Avg yield 3.21% (3.16%)
  • Sells 265m (320m) Rand 2038 Linkers; Bid-Cover 1.68x (1.61x), Avg yield 4.25% (4.08%)
  • Sells 360M (545m) Rand of 2.5% 2046 Linkers; Bid-Cover 1.5x (4.73x), Avg yield 4.27% (4.262%)

    Demand seen dropping across the majority of the auction, with the exception of 2038s. Notable decline in 2046 bid to covers and larger 2029 allocation.
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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