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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SOUTH AFRICA
- SAGBs trade slightly in the green this morning, having seen yet more bear steepening momentum in yesterday's broadly risk-off session. The entire curve lifted +3.9-7.6bp, with 10Y yields most offered on the day: +7.6bp, 15Y +5.9bp & 30Y +5.6bp.
- 10Y yields have now fully retraced the 10 Aug – 02 Sept (-32.5bp) move lower with the high-beta nature of SAGBs becoming a magnet for risk-off conditions.
- Attention is on 9.412 for a move higher towards 9.50. Meanwhile, 30Y yields hold around the 61.8% fib at 10.60 – seeming slightly less vulnerable than the 10Y.
- SA's 5Y CDS also rose sharply in yesterday's session (21.84bp) alongside 1w & 1m implied volatility.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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