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Local Rates Soften Post-Holiday, 2Y Anchored at 4.65 Support

SOUTH AFRICA
  • Local rates trade softer at the open having been closed for yesterday's Freedom Day holiday.
  • The Local curve continues to steepen, with the front end mostly anchored at 4.65 support while duration sells off +4.8-5.1bp.
  • 10Y yields currently holding just below 9.20 resistance, while 30Y yields trade above 11.00.
  • Swap rates mostly mirroring price action in bonds.
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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