Bonds were softer late on Tuesday despite a firmer rand ahead of the interest-rate decision by the South African Reserve Bank’s monetary policy committee (MPC) on Thursday.
Risky assets and commodity currencies were trading firmer as oil prices recovered to more than $30 a barrel again.
Most economists expect a 25 basis-points increase and some even up to 50 basis points‚ due to a higher inflation outlook caused by a weaker rand.
At 3.37pm‚ the benchmark R186 was bid at 9.660% and offered at 9.640% from Monday’s close of 9.590%.
The middle-dated R207 was bid at 9.140% and offered at 9.130% from a close of 9.085% previously.
The rand was trading at R16.4667 to the dollar from R16.5361 previously.
Meanwhile‚ on the global calendar this week is the interest-rate announcement by the US Federal Reserve’s open market committee on Wednesday and by the Bank of Japan on Friday.
Other central banks meeting this week include New Zealand on Wednesday‚ SA on Thursday‚ and Colombia and Russia on Friday.
Data releases include gross domestic product statistics for the US‚ the UK‚ France‚ Canada and Mexico‚ as well as the US employment cost index and inflation data in Australia‚ Japan and the eurozone.
- © BDlive 2016
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