The government’s five-year borrowing costs now exceed those of the nation’s banks despite the latter facing the deepest economic decline in decades and that they rely on the government as a lender of last resort in times of crisis.

The yield curve of SA’s sovereign bond market shows that five-year government yields are hovering at about 6.25%, more than 50 basis points higher than five-year borrowing costs for local banks...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now