The South African bond market was relatively stronger on Wednesday morning, reflecting a slight improvement in the fortunes of the rand, which acts as a buffer against inflationary pressures. Markets appeared to take simmering geopolitical tension in their stride, after North Korea launched an intercontinental ballistic missile, triggering a condemnation from world leaders. Asian markets were broadly positive, helping the rand and local bonds to shake off some of their recent losses. Benchmark government bond yields in the US and UK were also relatively stable after rising strongly over the past week during which their central bank governors indicated rate increases would be on the cards in coming months. Investors are likely to pay close attention the minutes of the US Federal Reserve’s June meeting, searching for clues on rate increases. The minutes are due for release later in the day. In SA, markets are likely to keep an eye on the ANC policy conference, which ends on Wednesday....
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