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SAGBs Bull Flatten, 5Y CDS Holds Its Uptrend

SOUTH AFRICA
  • Local rates trade a fraction softer at the open, having gained some bullish traction in yesterday's session.
  • The local curve bull flattened 10.4-16.8bp in 10-30Y yields with the 30Y leading the way lower after falling short of 10.90 resistance.
  • 10.60 support is the next key level to the downside in the 30Y, while 9.20 represents the next support in the 10Y.
  • SA's 5Y CDS pulled away from 210 to end slightly lower yesterday, but remains within the broad uptrend established on 25 June.


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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