South African bonds were unchanged on Tuesday morning as liquidity levels in the market remained thin ahead of the central bankers’ conference at Jackson Hole. The conference, which will start on Thursday, is a gathering of central bankers who will discuss economic and monetary policies. Investors are taking a wait-and-see approach ahead of the gathering. Speeches from European Central Bank (ECB) president Mario Draghi and Federal Reserve chairwoman Janet Yellen will be keenly followed as they are expected to give some guidance about when quantitative easing (QE) will be wound down and what plans the banks have for interest rates. On Wednesday Statistics SA will release consumer price index (CPI) data for July. Inflation is expected to ease from 5.1% in June as a result of lower food and transport costs. Sasfin Securities analysts said that liquidity levels continued to be light, which was likely to adversely affect Tuesday’s local government bond auction. At 9.05am the R186 was unc...
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