Rand and bonds pare losses after initial shock over medium-term budget
Ten-year government bond yield rises as investors question government's ability to deliver on planned spending cuts
28 October 2020 - 19:48
SA assets — including the rand, bonds and stocks — came under pressure on Wednesday after finance minister Tito Mboweni unveiled a bigger-than-expected budget deficit.
The rand initially weakened sharply to a one-week low while the JSE had its worst session since the first day of SA’s hard lockdown on March 27, but analysts did say the government has at least presented a credible plan for reining in spending...
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