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SA Rates Roiled by Rising Treasury Yields, 10Y Flirts With 9.00

SOUTH AFRICA
  • Local rates trade slightly firmer at the open, having sold off fairly aggressively in yesterday's bout UST upside post-US CPI.
  • Selling pressure was fairly uniform across the curve (+6.7-9.1bp) with a slight bear steepening bias.
  • W/w the curve has flattened at both ends, pivoting around the 10Y – which is currently holding marginally above 9.00.
  • 5Y CDS has lifted +8.75bp off Monday's low at 200.
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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