Picture: THINKSTOCK
Picture: THINKSTOCK

South African bonds were flat on Monday morning, with investors focusing on local data events this week and the Reserve Bank’s interest-rate announcement for direction.

On Wednesday, Statistics SA will release the consumer price index (CPI) data for June while the Reserve Bank’s monetary policy committee two-day meeting concludes on Thursday.

Inflation is widely expected to have eased further from 5.4% in May to 5.2% in June, due to a rand-denominated decline in the oil price The outcomes of the monetary policy committee meeting will be closely watched as it is the first meeting of the Bank since SA went into a technical recession.

All emerging-market risk assets were on the front foot after Friday’s inflation and retail data, Sasfin Securities bond analyst said.

At 9.01am the R186 government bond was bid at 8.650% from Friday’s 8.668% and the R207 at 7.525% from 7.535% © Business Day

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