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SAGBs Slide at the Start of the Week - 10Y Breaches 10.50

SOUTH AFRICA
  • SAGBs kick the week off on the back foot after being closed for Heritage Day on Friday.
  • The curve trades bear steeper this morning: 5Y +2.7bp, 10Y +3.5bp, 15Y +3.1bp, 30Y +0.9bp.
  • W/w the curve stands bear flatter in the 3m-1y portion of the curve (+13-15bp) while 8-10Y yields trade +10bp higher on week.
  • 10Y yields are holding around the 10.50 mark, while the 30Y looks to be headed towards the 61.8% fib at 10.368.
  • Precious metals gained slightly into the end of last week, but remain broadly vulnerable and will be eyeing Chinese PMI data later n the week

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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