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Rates Hold Upside Momentum as SABO Index Shows Continued Outflows

SOUTH AFRICA
  • Local rates hold upside momentum, bear steepening in line with yesterday's price action as a lift in UST yields rattled EM sentiment.
  • Breadth of the curve is higher: 2Y +2.4bp, 10Y +4.7bp, 30Y +3.9bp.
  • SABO index continues to indicate outflows accelerating, now at -1,959.005.
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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