South African government bonds weakened sharply again on Wednesday afternoon after firming 15 basis points in early morning trade.Trade was volatile as the market sought direction on expected future yields, brought about by a market conviction that the US Federal Reserve was set to hike interest rates more aggressively."As rates in the US continue to drift higher, we expect local bonds to follow suit by trading on the back foot," said Rand Merchant Bank (RMB) analyst Michelle Wohlberg.Analysts said global bonds remained vulnerable to a stronger dollar, with the euro weakening to $1.1777 from $1.1838 earlier.After staging their sharpest one-day gain since March 2017 on Tuesday, US treasuries were stable on Wednesday, Dow Jones Newswires reported.Everything points to the dollar rising further, ING analysts said in a note. "With our rates strategy team feeling there is little to stop US 10-year treasury yields pushing to 3.20%, momentum would certainly seem to back a further dollar adv...
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