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SAGBs Trade Mixed, Forward Rates Price in +66bp In Hikes over 3-6m Period

SOUTH AFRICA
  • SAGBs trade a fraction firmer around the open, having closed yesterday's session mostly mixed to weaker.
  • 2, 5 & 15Y yields lifted +1.5, 5.3bp & 1.5bp respectively while the 10Y fell -2bp for a mostly directionless day.
  • 30Y yields continue to hover above 10.80 support, holding a lateral range since the end of September - similar to the 10Y.
  • Forward rates still expressing expectations for +65.7bp in hikes on a 3-6m horizon which has remained stable since the upside surprise in PPI last 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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