South African bonds were slightly firmer at midday on Friday as the rand managed to stabilise after weakening on Thursday. The rand and bonds weakened on Thursday after worse-than-expected Chinese trade data for September resulted in investors selling emerging-market assets. The rand gained against the dollar later on Thursday as markets began to see the weak Chinese data as reducing the probability of a US rate increase in December, NKC Research analysts said. South African bond prices had rebounded a little from the one-month lows reached on Wednesday, the analysts said. At 11.07am the R186 was bid at 8.860% and asked at 8.840% from a previous 8.890%. The R207 was bid at 8.095% from a previous 8.095%. The rand was stable at R14.2652 to the dollar from R14.2558/$ previously. Local and global markets are now waiting for September US retail sales data, scheduled for release later on Friday. Strong data are likely to boost the expectation of a US rate increase in December, which would...
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