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Yield Curve Shifts Lower After Best Auction Since June

SOUTH AFRICA
  • Yields across SA's sovereign yield curve fell today after the strongest demand at the weekly government debt sale in five months.
  • This is the last auction before Finance Minister Enoch Godongwana's maiden medium-term budget policy statement later this week
  • Primary dealers placed orders for 15.9 billion rand ($1.1 billion) of debt, or 4.1 times the 3.9 billion rand on sale.
  • That compared with the bid-to-cover ratio of 3.5 at last week's auction and is above this year's average of 3
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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