Bonds largely unchanged as markets await Trump’s address to congress
The South African bond market was largely unchanged at midday on Monday as the market awaited direction from global developments. US President Donald Trump was set to address the US congress on Tuesday, with the market expecting further detail on his tax reform and infrastructural spending plans. US GDP data for the last quarter of 2016 was also scheduled to be released then, which was expected to give clues about interest-rate increases this year. A strong figure would increase the possibility of a March hike by the US Federal Reserve. Locally the market was eyeing political developments relating to the Treasury, and the hostility between Finance Minister Pravin Gordhan and South African Revenue Service commissioner Tom Moyane. "The ongoing spate of headlines regarding the finance minister have abated somewhat, and the focus has apparently shifted to the deputy finance minister," analysts at Nedbank Corporate and Investment Banking said. Reports at the weekend noted that the Hawks ...
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