The South African bond market was mixed at midday on Wednesday as global markets await US President Donald Trump’s tax reform announcement. The market, however, does not expect much from the speech. The rand was weaker against a softer dollar ahead of ahead of the speech. Thin trading ahead of the long weekend also contributes to rand weakness, and bonds usually track the rand. Rand Merchant Bank (RMB) analyst Gordon Kerr said foreigners were sellers of bonds on Tuesday, which could partly be due to the weaker market. This was after foreign inflows had supported the bond market over the past few weeks. He said this could "be put down to some profit-taking for what has been a remarkable rally in very testing times". At 11.31am the bid on the R187 was at 8.720% from Tuesday’s 8.670% and that of the R207 at 7.545% from 7.530%
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