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SAGBs Trim Losses as Risk Sentiment Improves

SOUTH AFRICA
  • SAGBs open slightly firmer this morning on the back of more favourable global risk sentiment out of APAC.
  • Yesterday’s session saw 10 & 30Y tenors break through key resistance as UST yields continued to march higher.
  • 10.323 gave way in the 10Y, supporting a test of 10.40 resistance, while the 30Y fell just short of 11.00.
  • W/w the SAGB curve stands +6-17bp higher in the 5-30Y section with the 15Y most offered.
  • Gold and platinum are recovering somewhat this morning in line with a softer USD, but SA’s terms of trade have fallen sharply this week – weighing on ZAR.
  • SA ToT


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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