South African bonds were firmer on Wednesday afternoon as the rand resumed its winning ways following range-bound trade to the dollar for the past two days. Investors are still keeping an eye on the ANC elective conference, which is expected to wrap up later in the day. Risks that the conference might collapse amid battles over how votes were counted during the election of the position for secretary-general, abated in late trade. New ANC president Cyril Ramaphosa is set to map out his vision for the future in his first speech as ANC leader later in the day. The ANC attributed a further nine votes to Senzo Mchunu’s tally in the disputed race for secretary-general. This was not enough, however, to unseat Ace Magashule, who originally won with a majority of 24 votes, which has now been revised to 15.
"Offshore markets have focused on the headline of a Ramaphosa win and have bought heavily into our bond market as a sign of confidence," said TreasuryOne dealer Phillip Pearce, addin...
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