South African government bonds continued their positive start to 2018 on Tuesday afternoon, even though the rand had given up some of its earlier gains on the dollar. At 3.16pm, the benchmark R186 government bond was bid at 8.57%, from 8.58% earlier in the day and from last Friday’s close of 8.59%. Meanwhile, the dollar reversed some of its losses to emerging-market currencies, including the rand, in afternoon trade. After strengthening to R12.26 to the dollar on Tuesday morning, the rand was trading at R12.35 to the greenback, or 0.27% stronger, on the day, by 4pm. The longer-dated R207 South African government bond was bid at 7.255%, from its previous close of 7.28%.
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