Foreign investors have turned sour on bonds, with the latest data showing they’ve effectively dumped all their holdings of SA fixed-income assets acquired in the final quarter of 2020 as surging Covid-19 cases across the globe stoke renewed fears about world economic growth prospects.

JSE data shows that foreign investors have already sold almost R6bn in SA bonds on a net basis so far in 2021, almost entirely reversing the R6.1bn net purchases they made in the final quarter of 2020, which came after tentative signs of a recovery boosted risk appetite...