South African bonds were mixed on Wednesday morning with the rand hardly changed. The tension between the US and North Korean has eased and markets are expected to trade in tight ranges as calm returns. Investors will be keeping a lookout for the US Federal open market committee meeting minutes, which are due for release later in the day. The minutes could shed some light on the Fed’s interest-rate plans and give solid insight into when it plans to start winding down its balance sheet. TreasuryOne dealer Andre Botha said investors would also be looking for what the Fed plans to do with the troubling inflation number. "The inflation conundrum has the potential to stunt the US interest-rate hiking cycle should low inflation become the norm rather than the exception," said Botha. Standard Bank trader Warrick Butler said he did not expect the Fed minutes to create volatility. "Their rhetoric is well known and documented by now. We really need something to jumpstart the markets again," s...
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