South African bonds were mixed at midday on Tuesday as the rand firmed to its best level to the dollar since June 2015. The rand rose to R12.1929 in intra-day trade amid reports that global consulting firm McKinsey and the Gupta-linked Trillian Capital Partners could see their assets frozen pending criminal charges. Analysts said the market was awaiting the outcome of the South African Reserve Bank’s interest-rate decision later in the week. The market was also waiting for the release of German and UK inflation data on Tuesday afternoon, and the opening of the US bond market. US markets were closed on Monday for Martin Luther King day. Nedbank Corporate and Investment Banking analysts said the Bank was likely to keep the repo rate unchanged at 6.75%. "There are downside risks to the Bank’s inflation outlook, while its growth forecasts are expected to remain unchanged." At 11.30am, the R186 was bid at 8.520% from 8.495% and the R207 was at 7.165% from 7.175%. The rand was at R12.2615...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.