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Rates Take a Big Round-Trip Post-Budget, Reversing Gains

SOUTH AFRICA
  • Local yields drift higher at the open after a choppy session yesterday that saw substantial volatility at the back end of the curve.
  • Post-budget, 30Y yields dipped ~35bp, bottoming out at 10.38 before retracing the entire move to close higher on the day in response to rising UST yields.
  • 15Y & 10Y also took a big round-trip, now trading above 10.30 & 8.80 respectively.
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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