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Linker Allocation Normalises after Reduced Auction Last Week

SOUTH AFRICA

Linker Auction Results:

  • Sells 365M Rand (vs R30m prior) of 2% 2025 Linkers; Bid-Cover 2.32x (8.5x) Avg yield 2.12% (2.02%)
  • Sells 835 Million Rand 2050 Linkers; Bid-Cover 1.66 (1.79x), avg yield 4.25% (4.1%)
  • No Bids Accepted by South Africa On 2.25% 2038 Linkers

Demand for linkers appears moderate and allocation seems to have returned back to normal levels after a sharp decline in last week's allocation that pushed bid-cover ratios higher.

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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