SA Bonds firm despite weaker rand

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Independent Newspapers

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Johannesburg - The South African bond market stayed firm in thin afternoon trade on Wednesday despite a weaker rand.

"We have managed to hold onto our morning gains this afternoon despite the weaker rand. Many traders are still on holiday‚ so the market remains subdued until they return next week‚" a local bond dealer said.

At 3.53pm the benchmark R186 was trading at 7.250% from a previous close of 7.265%. The R157 was trading at 5.310% from 5.325% previously and the R207 was bid at 6.270% and offered at 6.240% from its previous close of 6.270%.

The rand was last bid at R8.4822 to the US dollar from R8.4517 previously. Its best level by 3.53pm on Wednesday was R8.4082.

3.53pm Bid Range so far Previous Close

(1.53pm)

R186 (2026) 7.250% 7.245% - 7.265% 7.265%

R157 (2016) 5.310% 5.220% - 5.320% 5.325%

R207 (2020) 6.270% bid 6.270% - 6.270% 6.270%

Bond Exchange of SA (in billions of rand)

Friday Monday

Nominal cumulative volume R29.996 R26.008

Net foreign purchases/(sales) R0.275 R0.635

Net foreign purchases/(sales) in 2012: R85.373 billion

Net foreign purchases in 2011: R37.501 billion

Repo rate: 5.0%

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