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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SOUTH AFRICA
- SAGBs trade little changed this morning, having held a choppy but mostly firmer course in yesterday’s session.
- Yields fell -3.6-11.6bp across the curve with the 5Y most bid. 10 & 30Y tenors remain within their bear channel patterns, but have been exerting pressure on the upper end of the band in line with hawkish impulses coming from the Fed.
- 10.00 & 10.60 remain the key pivot resistance points in the 10 & 30Y, while 9.80 & 10.40 are notable supports.
- W/w the SAGB curve stands -6-8bp bull flatter in the 10-30Y section of the curve.
- 3x6 FRA-Jiba3m spreads have stabilised around +60bp, with BofA coming out yesterday in support of three more +25bp hikes in 2022, but no acceleration to +50bp steps.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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