South African bonds were slightly firmer on Thursday morning, following a volatile session on Wednesday where UK and US central bank comments dominated market sentiment. On Tuesday, US Federal Reserve chairperson Janet Yellen reiterated her views that interest rates in the world’s largest economy were still set to rise, albeit gradually. European Central Bank (ECB) president Mario Draghi said the bank was preparing to temper its quantitative easing programme. The comments made by the Fed and ECB played a dominant role in determining market action, Momentum SP Reid analysts said, as investors reacted to the perceived adjustment in the overall yield environment. At 9.03am the R186 was bid at 8.65% from Wednesday’s 8.67% and the R207 at 7.55% from 7.575%.
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