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US Treasuries Bite Back, Snapping 4-Day Bond Rally

SOUTH AFRICA
  • Local rates softer at the open after a strong week of bull flattening as US Treasury yields lift higher in early trading.
  • Duration seen outperforming w/w with the 15-30Y portion of the curve moving 40bp lower as SA assets absorbed flows from other EMs suffering from idiosyncratic risks.
  • 30Y took out key support at 11.00, while 10Y failed to hold below 9.20.
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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