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SAGB Curve Bull Steepens as Potential CPI Peak Emerges

SOUTH AFRICA
  • SAGB yields open -3.1-3.6bp lower in 10-30Y tenors, maintaining bullish momentum from yesterday’s session following signs of a potential peak in CPI.
  • Yields drifted -5.7-6.7bp lower yesterday with the 10Y most bid. The 10Y now stands a fraction below 9.50, eyeing 9.40 below, while the 30Y hovers around 10.20 with psychological support at 10.00.
  • W/w the curve stands -10-32bp lower across the breadth with a bull steepening bias in 3m-1y tenors.

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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