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SAGBs Remain Under Pressure as Risk Sentiment Sours on Ukraine Tensions

SOUTH AFRICA
  • SAGBs start the week on the backfoot with yields up +2.1-6.8bp in early trading with the 10Y most offered.
  • Yields continued to march higher in Friday’s session as risk sentiment soured into the weekend over the Ukraine crisis.
  • 10Y yields pushed through the 10.00 mark & 61.8% fib with 10.20 coming into focus, while 30Y yields have slowed slightly around the 61.8% fib at 10.77 with next resistance at 10.85.
  • W/w the SAGB curve trades bear flatter with 2-10Y yields up +22-37bp, while 15-30Y yields stand +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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