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SAGBs Wither Following the FOMC, Front End USTs Rise

SOUTH AFRICA
  • SAGBs trade a fraction weaker this morning, having ended yesterday's session a fraction bear flatter following slightly firmer CPI.
  • 2Y yields continue to climb above the 5.00 mark as markets digest last night's FOMC.
  • Front-end UST yields notched higher following the meeting and into this morning on the perceivably hawkish 2022 dot plot and guidance towards tapering "soon."
  • SAGBs remain broadly under pressure, with the curve trading +10-20bp higher across the breadth w/w.

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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