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SAGBs Fail to Consolidate Gains as US Data Spurs Volatility

SOUTH AFRICA
  • Local rates start the day slightly on the backfoot with 2Y yields trading +1.4bp around the open.
  • Yesterday's session saw broadly choppy price action around key US data releases with the curve ending flat on the day after retracing early strength.
  • 2Y yields remained pegged above the 5.00 handle, while the 10Y & 30Y failed to consolidate gains below 9.20 & 10.50 support respectively – but remain within their near-term downtrends ahead of the FOMC minutes.
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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