Bonds trade firmer as Hillary Clinton’s US presidential prospects rise
South African bonds remained marginally firmer late on Monday, taking their cue from a stronger, if range-bound, rand as markets take on riskier assets in the run-up to the US presidential elections. Global markets rallied on Monday after US Federal Bureau of Investigation (FBI) director James Comey said no new evidence had been found to warrant charges against Democratic candidate Hillary Clinton, over her use of a private e-mail server. Investors appeared to believe a victory for Clinton over her Republican rival Donald Trump in Tuesday’s election was more likely, and that a Clinton victory would cause less market volatility. The yield on the R186 bond was at 8.680% late on Monday, from 8.690% on Friday. The yield on the R270 bond was at 7.945% from 7.950% on Friday.
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