South African bonds were steady on Monday morning, tracking the rand.The rand closed Friday’s trade 1.59% firmer against the dollar, supported by a softer US inflation print and the reinstatement of charges against President Jacob Zuma. The rand and bonds had been under pressure amid signs that the US economy was showing gradual growth, but the lower than expected inflation print of 2.2% released on Friday cast doubts over interest-rate increases in 2018. Bonds have held on to some of Friday’s gains, but are expected to trade lower during the course of the day.At 9.04am the R186 benchmark government bond was bid at 8.62% from Friday’s 8.615%.The rand was at R13.3108 to the dollar from R 13.2984.
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