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Snapshot: China RRR Cut Buoys SAGBs & Stocks

SOUTH AFRICA
  • SAGBs trading firmly again today on the back of a decline in Omicron cases & follow-through from China's RRR cut
  • Curve is trading bull flatter with 10-30Y yields -6-8.2bp lower with the 30Y leading
  • Next sup in the 10Y seen at 9.851 & 10.508 in the 30Y
  • 1w & 1m risk reversals also seeing some declines alongside the 5Y CDS (-3.8bp)
  • Stocks taking the next leg higher, up +2.31% with miners & Prosus/Naspers driving the move
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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