MARKET WRAP: SA bonds track firmer global markets ahead of key US data
With central banks globally trying to allay fears of fast-rising inflation, yields have pulled back from recent highs
SA bonds firmed to levels last seen in February after global yields fell ahead of crucial inflation data from the US on Thursday and another rates announcement from the European Central Bank (ECB).
The yield on the R2030 government bond fell as much as 11 basis points to 8.62% in intraday trade on Wednesday, while the yield on US treasuries dipped below 1.5% for the first time in a month, to 1.47%. Bond yields move inversely to their prices...