South African bonds were weaker on Monday morning ahead of the expected ratings review on Friday by Moody’s and S&P Global Ratings.The market was also following a slightly weaker rand due to a firmer dollar. At the weekend Zimbabwean President Robert Mugabe decided not to resign as president, even though the ruling party had removed him as its leader.Analysts expect market volatility to continue until at least February, after the conclusion of the ANC’s elective conference in December and Finance Minister Malusi Gigaba’s budget in February."SA’s downgrading is no longer an if, but a when," said Citadel portfolio manager Mike van der Westhuizen.He said a downgrade on Friday would inevitably lead to further bond and currency weakness. "However, it could be argued that most of the weakness was already priced in," Van der Westhuizen said.At 8.54am the R186 was bid at 9.37% from 9.32% and the R207 was at 8.07% from 8.02%.The rand was at R14.0475% from R14.0028. The euro was at $1.1739 fr...
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