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Rising UST Yields Hit High-Beta SAGBs, 30Y Flirts With Key Resistance

SOUTH AFRICA
  • SAGBs trade a fraction firmer at the open following yesterday’s broadly weaker session.
  • Rising UST yields kept yields biased higher yesterday with the curve bear steepening +8.2-11.9bp in 10-30Y tenors.
  • 30Y yields closed just above 10.70 resistance, and may make a move towards the 10.80-90 zone, should upside pressure in UST yields persist.
  • The 10Y still remain pegged below 9.90 within its December consolidation range.

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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