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SA Rates Break Ranks With EM FI, Bull Flattening

SOUTH AFRICA
  • Local rates mostly subdued at the open with a marginal bear steepening bias.
  • SA rates diverged the broad weakening trend affecting EM FI in yesterday's session, closing bull flatter on the day.
  • Front end yields lifted +2.8bp, while 15Y & 10Y yields dipped -4.2bp & -3.1bp respectively.
  • Focus today on volatility in the US Treasury market surrounding CPI data today as markets remain concerned about future Fed hikes.
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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