Foreign investors lightened up on South African bonds for the second week running but were net buyers of local equities. Foreigners were net sellers of local bonds to the value of R597.8m last week, bringing down the tally bought so far in 2016 to R56.96bn, according to the JSE data. Offshore investors accumulated a net R560.7m worth of local shares, trimming the total sold so far in 2016 to R101.4bn. Local bonds in particular have for the better part of this year benefited from the global hunt for a higher yield as a result of extremely low interest rates in the developed markets. The benchmark R186 government yielded 8.78% in early trade, compared with the equivalent German bond that yielded minus 0.0077%.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.