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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 tread water around the open ahead of today's SARB meeting, having continued to bull steepen in yesterday's session into CPI – which came out flat at 5.0% y/y.
- 2Y yields have rallied -11.3bp this week ahead of the meeting with 1x4 forward rates also displaying a more uncertain picture at +16bp priced in vs the full +25bp last week.
- W/w the curve stands bear steeper, however, with weakness concentrated in 10, 15 & 30Y yields (+21-27bp).
- A hold decision may see the remaining hawkish positions priced out post-decision, while a hike should inject upside pressure into the front end of the curve.
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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