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SAGBs Slip W/W, Risk Premia Stage Notable Reversal

SOUTH AFRICA
  • Local rates open flat to slightly firmer this morning, having remained offered in yesterday's session.
  • 10Y yields felt the brunt of broad-based risk-off, lifting 14.1bp while the 15-30Y portion of the curve moved +7-7.5bp higher.
  • W/w the bears have been in control of price action, with the breadth of the curve positioned +17-30bp higher.
  • Risk premia have also staged a notable reversal +10.36bp since Monday.
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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