South African bonds were slightly firmer shortly before Wednesday at midday, tracking the rand, as the dollar remained under some pressure. Economic data out of the eurozone this week had put the greenback on the back foot. Senate Republicans on Tuesday also attached a provision to their tax form plan that would repeal the requirement that all Americans have health insurance, reported Dow Jones Newswires. Along with some dollar weakness, the rand also found some relief on Tuesday, as it appeared that political tension within the ANC were not escalating, said Rand Merchant Bank currency strategist John Cairns. Tuesday’s government bond auction was also well-supported, despite the increased issuance size, analysts said. The Treasury had announced the 25% increase in issuance last week, to help plug a R51bn hole in the fiscus. Investors were also keeping an eye on the building political tension in Zimbabwe, but analysts said that while this had not yet affected the local market, it ris...
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