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SAGBs Bear Steepen at the Open, 2Y Confirms Break Above 5.00

SOUTH AFRICA
  • local rates trade softer at the open, having ended yesterday's session bear flatter. 2Y yields rise +4bp, while 15-30Y yields lifted +1.2bp.
  • 2Y yields confirmed the break above 5.00, and are now pressuring last week's high at 5.05 with next topside resistance at 5.10 & 5.15.
  • 10Y yields closed flat yesterday, having stalled out above 9.20 support.
  • SA's Top40 index remains under pressure, dipping below 63k in yesterday's session as PGMs slid on weak China data.
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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