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SAGBs Hold Onto Gains W/W, 3x6 FRA Spreads Narrow to +61.3bp

SOUTH AFRICA
  • SAGB yields open -4-4.3bp lower this morning with mixed risk sentiment coming through from the APAC session and UST yields falling into the start of the European session.
  • SAGBs traded mixed yesterday with 5-10Y yields -5.6-6.9bp lower, while 15-30Y yields rose +0.2-4.1bp. W/w the SAGB curve has held onto -7-21bp in gains with the 5Y most bid.
  • 3x6 FRA-Jiba3m spreads also continue to moderate this week, now at +61.3bp vs +72bp on 28 March.

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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