South African bonds were unchanged in quiet trade at midday on Monday as there were no local data releases scheduled for the day. Analysts, however, expect some good news on the local economic front as the producer price index (PPI) for May, as well as trade data, will be released later in the week. "That should be bond and rand supportive," Rand Merchant Bank (RMB) analyst Deon Kohlmeyer said. At 11.49am the yield on the R186 was unchanged at 8.51% and the R207 was steady at 7.43%. Last week’s local trade in bonds was also muted as the R186 fluctuated around 8.50% for most of the week. "Last week was pretty uneventful," said Kohlmeyer. The US 10-year bond was at 2.1572% from 2.1451%. The UK 10-year gilt was at 1.0366% from 1.0314%.
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