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LT Yields Jump Higher as Markets Eye Growth Concerns as Tourism Homes Dwindle

SOUTH AFRICA
  • SAGB yields jump higher this morning after the UK placed SA on its travel red list ahead of the prime tourist season over concerns surrounding a new Covid-19 variant.
  • Yields have moved higher across the curve, but most notably in 15 & 30Y tenors, now up +25.5 & 13.3bp respectively.
  • Both have breached the 11.00 handle, with the 15Y moving above the October highs as markets anticipate an even deeper downturn in SA's already fragile growth trajectory going into 2022.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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