South African government bonds were slightly weaker shortly before noon on Friday, with investor focus squarely on the ANC elective conference that begins on Saturday.The rand is expected to be range-bound ahead of the conference, where Deputy President Cyril Ramaphosa and ANC MP Nkosazana Dlamini-Zuma will contest the party’s leadership.The outcome of the electoral conference, which will not necessarily be on Sunday as scheduled, is expected to generate significant rand volatility at the weekend."Today will probably portray a nervous calm as one of the most important and defining events in our history unfolds over the next few days," said Sasfin Securities bond analysts.The feeling was that most investors had sorted out their positions ahead of the conference, and after the government switch auction, trading should be quiet, said Rand Merchant Bank analyst Gordon Kerr.At 11.30am, the rand was at R13.4461 to the dollar from R13.5104.The yield on the 10-year benchmark bond was bid at...
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