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Local Rates Buoyed by Risk-On Ahead of SARB

  • Local rates open lower, 10Y leads the way -2.1bp after a decent bull flattening in yesterday's risk-on session.
  • 30Y hovering below 10.90 support after comprehensively rejecting 11.00, with 10.80 the next major level below.
  • 2Y has been drifting lower since 11 Jan, possibly on tentative rate cut expectations.
MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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