South African bonds were softer on Friday morning, tracking a weaker rand, as the market awaited the latest decisions on SA’s creditworthiness by agencies S&P Global Ratings and Moody’s. On Thursday, Fitch re-affirmed SA’s status at sub-investment grade with a stable outlook, providing a glimmer of hope that the other agencies would also wait for the outcome of the ANC’s December elective conference. Thinned-out conditions were expected to prevail before the agencies’ statements, which are expected after local markets close, said Sasfin Securities Bond analysts.
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