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SAGB Bull Run Pauses for Breath, 30Y Stalls at 10.90

SOUTH AFRICA
  • Local rates trade flat to slightly softer at the open after a choppy session yesterday left the curve mostly steeper at the close.
  • 30Y yields failed to clear support at 10.90, while the 10Y rejected the 9.25 level.
  • Sell side still remains optimistic about duration in SAGBs but will need to negotiate US CPI today.

Data:

  • 1030BST: Mining production y/y exp at -3.0% vs -6.2% prior
  • 1030BST: Mining production M/M exp at 0.4% vs 4.5% prior
  • Platinum Production Y/Y, -14.5% prior- Gold production Y/Y, -14.1% prior
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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