South African bonds were weaker shortly before midday on Monday, with expectations of range-bound trade ahead of key risk events at the end of this week. The Reserve Bank is expected to announce its latest monetary policy decision on Thursday, while Friday sees the release of the latest credit-rating reviews by agencies S&P and Moody’s. The market was also watching events in Zimbabwe, where reports on Monday suggested President Robert Mugabe had struck a deal to resign. To avoid international or regional opposition, those pursuing the coup needed the reappointment of vice-president Emmerson Mnangagwa, which was Mugabe’s biggest bargaining chip, but the longer he delayed the larger the chance of a disorderly exit, Exotix research analysts said. With little data out on Monday, bonds should trade in a tight range, watching the news wires for any further developments in the ANC electoral race, said Rand Merchant Bank analyst Gordon Kerr. Investors would also keep an eye on Zimbabwe, but...
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