SA bonds continue to find support despite domestic headwinds
The government’s worsening debt situation and domestic politics continue to threaten SA assets, although most focus remains on offshore factors
09 July 2019 - 14:34
SA bonds weakened slightly on Tuesday afternoon, although they found support in the Treasury’s weekly auction, as markets waited for clarification on the US Federal Reserve’s stance on monetary policy.
The rand was steady against major global currencies, while bonds were only a little way off their best level in a year. Still, the latter continue to find buyers, but domestic risk factors, including the government’s debt burden, constrain the longer-term outlook for these assets, analysts said...
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