The South African bond market was stable on Thursday morning on a firmer rand with the local currency breaking through the R13.30/$ level in morning trade. Local bonds have held steady after Wednesday’s upbeat consumer inflation data, showed that inflation slowed to 6.1% in March from 6.3% in February. At 8.41am the yield on the R186 was at 8.82% from 8.78%. The rand was at R13.2517 from R13.2738. "We will see in a week or so if the rand can hold up at present levels," said Iquad Treasury analyst Tony van Dyk. He expected importers to enter the market at present strong levels, which would weaken the currency. "A level of R13.50/$ is more appropriate for present market conditions," he said. After a strong run in April US treasuries trended weaker on Thursday morning. The 10-year bond was at 2.1986% from 2.1738%. "Macroeconomic data in the US has disappointed of late with US 10-year treasury yields trading at around 2.20%, as investors speculate that the Federal open market committee ...
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