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Demand Ticks Higher for 182 & 364-day Bills at Auction

SOUTH AFRICA

Auction results

  • 547 Million Rand 91-day Bills; Bid-Cover 1.78x, Avg yield 3.88%
  • 2.94B Rand 182-day Bills; Bid-Cover 2.21x (1.52x), Avg yield 4.65% (4.56%)
  • 3.99B Rand 273-day Bills; Bid-Cover 2.38x (3.22x), Avg yield 4.79% (4.79%)
  • 4.3B Rand 364-day Bills; Bid-Cover 4.17x (2.16x), Avg yield 4.81% (4.9%)

Mixed auction across the board with demand seen picking up in 182 & 364-day bills. Follows on from a very strong auction for 2030-1035s on Tuesday. Sell side seeing promise in the back end of the SA curve (Long SAGB 30Y & Receiving 10Y ZAR IRS)

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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