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SAGBs Kick Off Weaker, But Remain on Track for W/W Gain

SOUTH AFRICA
  • SAGBs kick off firmly on the backfoot this morning, up +4.5-7bp across the curve with the 30Y most offered thus far.
  • This broadly erases yesterday’s bull flattening gains, but w/w has registered a -17-22bp drop in yields across the breadth of the curve.
  • 2Y yields failed to hold onto yesterday’s move below 5.00, while 10 & 30Y tenors found support at 10.119 & 10.755 respectively and the 5Y CDS fell a further -6bp.
  • SAGB curve w/w change


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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