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Rates Ease After Robust Inflows, 10Y Facing Key Resistance (8.50)

SOUTH AFRICA
  • Local rates pulling back slightly at the open after a week of robust inflows into the back end of the curve.
  • Bull steepener taking place this morning, 10Y +3bp, 15Y +2.5bp, 30Y +3.2bp.
  • 30Y failed to hold only 10.50 and may look to target 10.60 (50% fib from 01 Feb), 10Y will also need to negotiate 8.50 this week.
  • 2Y also looking a bit vulnerable to further upside back towards 4.60.
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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