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US-China Tensions Push Local Curve Steeper

SOUTH AFRICA
  • Local yields trading marginally lower following a bout of risk-off and bear steepening during yesterday's session on US-China Tensions.
  • 10Y yields holding below topside resistance at 8.90, while 30Y yields fared slightly better than the 10Y yesterday - now holding below 11.00.
  • USD/ZAR pares a portion of yesterday's move higher, but still remains caught in a broadly sideways range between 15.60-15.20.
  • Limited data on the agenda should see the cross track broad risk sentiment in USD/CNH and China-related headline risks. Mixed commodities also keeping USD/ZAR rangebound.
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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