Free Trial

US Treasuries Wreak Havoc on EM FX/FI

SOUTH AFRICA
  • Local rates trading mixed across the curve – flattening from both ends amid mixed risk sentiment and rising UST yields (now above 1.7%).
  • 10Y +3.1bp at 9.36, while 30Y holds above 11.25. Volatility is likely to persist across EM FI in the near-term as markets digest Powell's testimony.
  • USD/ZAR opens higher as US Treasury yields spike higher with the $ in tow.
  • Commodities reversed early gains: Gold -0.34%, Platinum -0.19%, while local stocks follow APAC indices higher: T40 +1.44%.
  • Limited local catalysts on the agenda for today leaves price action vulnerable to $-side developments and broad risk sentiment.
  • The cross has pared a portion of yesterday's move lower, holding just below the underside of the prior sticky range from 14.80-15.2116.
  • Intraday Sup1: 14.6213, Sup2: 14.5183, Res1: 14.8168, Res2: 14.9078
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.