The bond market was weaker in late afternoon trade on Friday despite the rand’s reaching a new 20-month best level. Bonds were trending weaker for most of the day ahead of next week’s interest-rate decision by the Reserve Bank. Rates were expected to be kept unchanged. The rand remained firmer in late afternoon trade, despite the dollar marginally recovering against the euro. It reached a best intraday level of R12.4369 to the dollar. However, bond yields were little moved, mainly on flat US treasuries. At 3.54pm the yield on the benchmark R186 was at 8.38% from 8.31%. The yield on the R207 was at 7.44% from 7.38%. The yield on the benchmark US 10-year bond was unchanged at 2.4215%.
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