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SAGBs Close Firmer, Ending the Week Mostly Flat

SOUTH AFRICA
  • local rates trade a fraction firmer around the open, having bull flattened in yesterday's session.
  • 30Y yields outperformed on the day, dipping -6.7bp to hold below 10.60, while 10Y yields ended -2.8bp lower.
  • 2Y yields also continue to drift lower, having moved below 5.00 in yesterday's session.
  • W/w the SAGB curve remains little changed to marginally lower, with the exception of 3-6m tenors (-42-50bp lower).
  • Next support for the 10Y seen at 9.25 & 9.20, 30Y support at 10.50 & 10.40.
  • SA's 5Y CDS also notched lower after three stationary sessions – but remains within the 200-206 range.
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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