Bonds slightly firmer on stable rand

21 January 2016 - 14:13 By Madeleine Van Niekerk
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Rands notes. File photo.
Rands notes. File photo.
Image: Gallo Images / Foto24 / Brendan Croft

South African bonds ticked firmer at midday on Thursday as the rand stabilised at stronger levels.

Market participants are now awaiting the outcome of the latest policy meeting at the European Central Bank (ECB) later in the day. No further stimulus measures are expected for Thursday.

At 11.35am‚ the benchmark R186 was bid at 9.665% and offered at 9.660% from Wednesday’s close of 9.680%.

The middle-dated R207 was bid at 9.180% and offered at 9.160% from a close of 9.210% previously.

The rand was trading at R16.7585 from R16.7584 previously.

Market participants are also awaiting the upcoming local interest rate decision on January 28 by the South African Reserve Bank monetary policy committee. Barclays expects the Reserve Bank to stick with its policy of gradualism and increase the rate by no more than 25 basis points.

- TMG Digital/BDlive

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