Bonds steady as they track global markets

The South African bond market was little changed on Tuesday morning‚ with traders marking time ahead of the US presidential election.

The yield on the benchmark R186 bond hovered at 8.670% in early trade‚ from 8.675% on Monday.

Democrat Hillary Clinton has an edge over her Republican rival Donald Trump‚ according to the latest opinion polls.

“Going into the voting day‚ the betting markets have Clinton at 81% probability as the five last major polls have all shown her ahead overall and in the key swing states‚” Rand Merchant Bank currency analyst John Cairns said.

“This still leaves some room for surprises: Trump’s 18% probability is the big one‚ but there is also a 6% probability that the Democrats could get a clean sweep by winning the House.”

Government bond yields in some of the developed markets were higher on Tuesday morning‚ with the US treasury note yielding 1.8147%‚ from 1.7755% on Monday.




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