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SAGBs Trim Gains Following SARB's +50bp Hike

SOUTH AFRICA
  • SAGBs are little changed this morning, hovering around the open following yesterday’s SARB.
  • Yields drifted lower following the decision, supported by falling UST yields and more favourable global risk sentiment.
  • W/W the curve trade marginally bull steeper with some sell-side analysts seeing a greater chance of more standard +25bp hikes in the pipeline for the remainder of the year.
  • Key support in the 30Y remains at 10.80 and 10.20 in the 10Y.
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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