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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.
SOUTH AFRICA
- SAGBs open sharply higher this morning with yields up +16-21bp across the curve as risk-off remains the dominant theme.
- Yields rose +29-32.8bp yesterday with weakness distributed evenly across the curve on the back of surging energy prices.
- Implied market pricing via FRA1x4-jiba3m spreads also rose to +46.3bp vs +32bp at the start of March – signalling proinflationary concerns and expectations for a potential acceleration in the SARB’s hiking cycle.
- Nevertheless, the SARB will be cognizant of crippling growth with more aggressive hikes when the shock is purely exogenous – making for a difficult upcoming meeting.
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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