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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.
SOUTH AFRICA
- SAGBs open 1.1-2.9bp weaker this morning on the back of yesterday’s upside surprise in US CPI that sent UST yields sharply higher.
- Yields remained resilient to close -6.4-9.3bp lower in 10-30Y tenors on the day, but 30Y yields failed to close below key multi-year support at 10.30.
- Ramaphosa’s decision to extend the SRD grant over introducing a BIG is a good fiscal omen ahead of the Feb 23 budget, with the president reiterating the importance of affordability in social spending.
- W/w the SAGB curve stands -9bp bull flatter in 10-30Y yields – reflecting the improved fiscal outlook going into the budget.
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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