South African bonds were slightly firmer at midday on Tuesday as the rand remained range bound, awaiting new political developments. The rand has not broken through R12 to the dollar this week, amid reports that the ANC’s national executive committee (NEC) has not decided on a timeline for President Jacob Zuma to leave office. Instead, it has been consolidating between R12.02 and R12.12 to the dollar for the week so far. Locally, consumer price inflation (CPI), due for release on Wednesday, is expected to provide further guidance to the market. At 11.33am, the R186 was bid at 8.36% from 8.38% and the R207 was at 6.995% from 7.015%. The rand was at R12.1007 to the dollar from R12.0545. US government bonds weakened on Monday after the US Senate reached a deal to keep the government open until February 8. Many investors had been sceptical that the government shutdown would have a significant impact on financial markets, Dow Jones Newswires reported. US 10-year treasury yields have brok...
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