South African bonds were steady on Tuesday morning, with investors cautious ahead of the US Federal Reserve’s two-day policy meeting. While an interest-rate increase is unlikely, the market expects to gain further insight into the health of the US economy and the expected pace of future rate increases. TreasuryOne dealer Phillip Pearce said there was "virtually zero" chance of another US rate increase and market moves would be range-bound on Tuesday as the market awaited Wednesday’s decision. At 9.01am the R186 was bid at 8.535% from Monday’s 8.530% and the R207 at 7.310% from 7.305%.
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