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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 start tentatively on the front foot in duration this morning, having remained well bid in yesterday's session.
- The curve shifted lower across the breadth yesterday amid more favourable global risk conditions with 10-30Y yields outperforming on the day.
- The 10Y was the standout, with yields falling -13.9bp to break below 9.80 support and the 50% fib of the 31 Aug-29 Oct range.
- Expectations for a strong showing at the MTBPS this week are also supporting greater demand for duration on an improved medium-term fiscal outlook, but risks to more permanent grants and left-leaning policy following the ANC's poor election showing remain the primary concern for this meeting.
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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