South African government bonds were slightly softer on Friday morning, inline with the rand, which had crept back above the psychologically important R12/$ threshold.US treasuries have climbed towards the 3% mark, following data from the US on Thursday, which indicated the current underlying strength of the economy.This pointed to faster monetary policy tightening in that country, with emerging-market bonds not unscathed, analysts said.Locally, Reserve Bank governor Lesetja Kganyago also indicated on Thursday that recent upbeat inflation data on its own would not be enough to precipitate another interest-rate cut. The Bank has indicated it was important to anchor inflation expectations around the 4.5% mark, and has cited a need for the rand to weather possible risks.In the absence of major data releases trade was expected to be subdued on Friday, Rand Merchant Bank analysts said.At 10am the R186 was bid at 8.02% from 7.99% and the R207 at 6.92% from 6.885%.The rand was at R12.0134 t...
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