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SAGBs Bear Steepen, 10Y Pulls Away from 9.00 Support

SOUTH AFRICA
  • Local rates unch this morning due to the public holiday.
  • Yesterday, however, saw bear flattening momentum sustained, with long-dated yields lifting +3.4-5.3bp as US Treasury yields kicked higher ahead of today's FOMC.
  • 10Y yields moved firmly away from the 9.00 level, while the 5Y CDS ticked higher for a second straight session.
  • The Top40 index took a turn lower in yesterday's session, dipping back towards 61k support on faltering mining stocks.
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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