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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 kick off slightly on the backfoot this morning, maintaining yesterday's board weakening trend after PPI data showed a marked acceleration beyond expectations – driven higher by rising energy prices.
- The SAGB curve lifted +7.2 & 14bp in 2 & 5Y tenors, while 10Y yields rose +9.6bp on the day – reflecting inflation concerns and pre-election jitters.
- 5 & 10Y breakevens also rose after a period of consolidation from mid-October alongside an uptick in front end ZAR swap rates as markets price in an expedited SARB normalisation cycle.
- 10Y yields encountered some selling pressure on moves towards 10.20 in line with the October highs, but has remained within the near-term uptrend.
- Meanwhile 2Y yields maintained their robust uptrend since the start of September (+65bp).
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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