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SAGB's Bear Steepen at the Open, Playing Catch-Up Post-FOMC

SOUTH AFRICA
  • Local rates open sharply higher, playing catch-up to the broadly risk-off session post-FOMC after yesterday's public holiday. Local curve seen bear steepening +11.5-12bp in 10-30Y yields.
  • W/w the curve stands +15-25bp higher across the breadth with a marginal bear steepening bias.
  • 30Y yields trading above the 10.50 handle while 2Y yields consolidate the move above 5.00.
  • 1Y SA Basis Swaps seen hovering around the 100 level.
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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