Local government bonds were softer on Friday morning, in line with the rand, which came under pressure amid a dollar recovery. Local focus is on a meeting of senior ANC officials this weekend.Reports have suggested the ANC national executive committee (NEC) will meet on Sunday amid speculation that President Cyril Ramaphosa is close to announcing an Cabinet reshuffle.The rand should remain range-bound until any political news was announced due to the absence of major data releases, said TreasuryOne currency dealer Phillip Pearce.Globally, the dollar continues to find support from the release of minutes from the US Federal Reserve’s January meeting — widely perceived by the market as hawkish in tone.Analysts said the market was closely watching US treasuries.At 9.30am, the benchmark R186 bond was bid at 8.05%, from 8.01% previously, with the longer-dated R207 at 6.605% from 6.575%.The rand was at R11.6862 to the dollar from R11.6558.The US 10-year treasury was last seen at 2.9208% fr...
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