South African bonds were steady on Wednesday at midday, as the market awaited the South African Reserve Bank’s interest-rate decision on Thursday and amid warnings that rising US bond yields hold significant risks for global markets.The slightly weaker rand weighed on the market, providing little support for further appreciation in yields. The market is not expecting any change in local interest rates."With many factors pointing to some upwards pressure on SA’s inflation, particularly towards next year, the scope for significant interest-rate cuts by the Reserve Bank appears limited," Investec chief economist Annabel Bishop said.Globally, the ending of the US Federal Reserve’s decade-long expansionary policies holds significant risks, Franklin Templeton analysts said in their global outlook for 2018. "Markets could see sharp corrections to US treasury yields."Franklin Templeton said the impact on emerging markets could vary from country to country. Countries such as Turkey and Venez...
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