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SAGBs Bull Flatten, 10Y Eyes 10.00 Handle

SOUTH AFRICA
  • SAGBs trade a fraction firmer around the open, having closed yesterday's session bull flatter.
  • The front end of the curve remained anchored throughout the session, while 10-30Y yields dipped -4.4-5.3bp, with 30Y yields most bid on the day.
  • 10Y yields stand around the 38.2% Fib of the recent 20-22 Oct range, but will need to make a consolidated break below 9.998 (61.8% Fib) to break the recent uptrend.
  • Key support in the 30Y is defined at 10.80, followed by 10.70.
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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