Local government bonds were slightly softer on Friday morning, while the rand was stable, following overnight gains due to a dollar retreat.The dollar gave back gains it had made in recent days after US President Donald Trump said his administration would press ahead with sweeping tariffs on steel and aluminium imports.This put global equities under pressure, amid the fear of retaliation from major trading partners of the US, reported Dow Jones Newswires.Trump’s proposal, of a 25% tariff on steel, and 10% on aluminium starting from next week, contributed to a continued risk-off tone on global markets, said FX Pro analysts.The US imports about five times more steel than it exports, and Trump had made the issue of alleged "dumping" of steel products — particularly from China — a key issue during his 2016 US election campaign.Analysts expect the rand to continue to provide direction for local bonds, in the absence of major global data releases on Friday.At 11.30am the R186 was bid at 8...
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