The rand and SA bonds weakened on Monday as foreigners sold local assets in the wake of record numbers of Covid-19 cases, while President Cyril Ramaphosa is expected to address the nation in the evening on the latest virus developments.

The R2030 government bond weakened, with the yield rising five basis points to 8.84%, the highest since December 29 2020, as foreigners reduce their holdings of SA government debt. Bond yields move inversely to their prices. ..

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now