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SAGBs Feel Some Reprieve, but Still Trade Softer W/W

EMERGING MARKETS
  • Local rates open firmer this morning on the back of slightly firmer global risk sentiment and signs of tentative thawing of large-scale looting and violence in KZN & Gauteng.
  • 10-30Y yields trade 2.1-4.0bp firmer, with the 10Y leading the way lower while the front end remains little changed.
  • W/w the curve remains higher across the breadth with the 3m-1Y portion most offered (+25-27bp), followed by 15-30Y tenors (+17-19bp higher).
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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