Bonds in stable range in early trade

South African bonds were steady on Wednesday morning with a slightly weaker bias.

With little data scheduled on the global front‚ traders are likely to pay attention to local retail sales for July later in the day.

Given constrained trading conditions‚ retail sales are likely to be have been subdued after increasing 1.7% in June on an annualised basis.

The yield on the benchmark R186 bond was at 8.730% in early trade‚ from 8.705% at the last settlement.

The rand‚ which is one of the key drivers of the bond market‚ was at R14.3753 to the dollar from R14.3951.

Bond yields in the developed economies were higher in early trade‚ with the US 10-year note sitting at 1.7151% from 1.6628% at the previous close.




Leave a Reply