South African bonds were mixed on Tuesday afternoon, with investors awaiting the Reserve Bank’s interest-rate decision on Thursday, and the release of consumer inflation data on Wednesday. Investors are also keeping an eye out for the US Federal Reserve open market committee’s policy statement on Wednesday, which could move the rand should the Fed’s stance becomes more hawkish. Bonds were expected to remain range-bound until then, analysts said. Earlier, the South African government bond auction was well supported, likely due to the monetary policy decisions this week, which could see Tuesday’s successful bidders gain, should bonds rally, said Sasfin Securities fixed-income dealer Alvin Chawasema. Those who bid successfully on Tuesday have the option to apply for additional bonds on Thursday, at the yields they cleared on Tuesday. The Reserve Bank monetary policy committee is widely expected to announce a cut of 25 basis points on Thursday‚ with analysts citing relative rand strengt...
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