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Local GBs Subdued After Tough Friday

SOUTH AFRICA
  • Local yields subdued at the open after selling off towards the back end of last week on rising UST yields.
  • 2Y looking to potentially inch up towards 4.60 post-hawkish SARB, mirrored in 2Y swaps.
  • 10Y looking choppy in the 8.70-8.90 range, while 30 holds marginally above 10.80.
  • Quieter markets this week may see real money inflows return, provided USTs remain pegged lower.
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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