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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 are trading firmly for a second straight session this week as uncertainty over the Omicron variant drives extensive policy uncertainty across global markets with traders pushing back on rate hike expectations across the board
- SAGBs stand -8.2-9.7bp lower across the curve with outperformance centred in 2 & 30Y yields. SAGBs benefit from this environment given real yields are currently the widest in the EM space - also bolsering ZAR in a weak USD environment.
- 2Y yields have fallen -51.8bp since the start of November, despite the SARB delivering its first +25bp rate hike, with the decision roughly 60% priced in.
- Key support is defined in the 5.00-5.034 zone, followed by 4.93 & 4.87 below.
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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