South African bonds were weaker on Friday afternoon in line with the rand, which slipped through the R13 to the dollar mark, but analysts said the weakness in local bonds was likely to be temporary, given the supportive global backdrop. Yield-seeking foreign investors bought about a net R5bn worth of local bonds last week, bringing the total bought so far in 2017 to a net R45.9bn. Sasfin Wealth head of fixed-income dealing Ashley Dickinson said: "The longer term trend is probably still intact so we see support creeping in at these higher levels." The benchmark R186 was bid at 8.59% in late trade, from 8.51% on Thursday, as the rand slipped to session lows of R13.0706 to the dollar, from a best level of R12.9772. Meanwhile, the keenly awaited US second-quarter GDP data came in line with market expectations. The economy grew at an annual rate of 2.6% in the second quarter, up from revised growth of 1.2% in the first quarter.
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