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SAGBs Face Three-Day Weakening Spell, Rattled by Risk-Off

SOUTH AFRICA
  • Local rates trade slightly firmer at the open after a third consecutive session in the red yesterday, albeit only slightly.
  • An early push higher in yields was met with buying pressure mid-way through the session, but may struggle to make new lows amid broad-based risk off in EM FI.
  • 10Y eyes resistance at 9.10, while the 30Y hovers around 10.80 support.
  • 2Y remains within its downtrend below 4.90 with a focus on CPI today.
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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