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SAGBs Bear Steepen as US Treasuries Retest 1.50 Resistance

SOUTH AFRICA
  • Local rates trade little changed around the open, having bear steepened in yesterday's session as EM FI sentiment soured on rising US Treasury yields retesting the 1.50% level.
  • 10Y – 30Y portion of the curve lifted +3.4-5.3bp, while the 10Y moved back above 9.00.
  • Risk premia lifted in yesterday's session to test 185 resistance, threatening to break the downtrend held since the 20 May peak.
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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