South African bonds were weaker on Tuesday just before midday, taking their cue from the softer rand. The rand, together with other emerging-market currencies, was under pressure as investors awaited more signals from the recent policy tightening stance by global central banks. The Dow Jones Newswires reported that a European Central Bank official was expected to speak in Frankfurt, while officials of the Bank of England were also expected to make remarks about the future interest rate trajectory. Federal Reserve chairwoman Jenet Yellen will address US congress on Wednesday and Thursday, where she is expected to give more clues on the pace of interest-rate increases for this year. The rand, which bonds usually track, was 0.7% weaker against the dollar, 0.65% against the euro and 0.9% against the pound. Other factors also affected the rand, such as the Public Protector Busisiwe Mkhwebane withdrawing her proposal to have the constitutional mandate of the Reserve Bank changed, but ther...
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