Local bond yields leap in rush for safety
Benchmark government bond yield reaches 10.8% for the first time since Zuma fired Nene
06 July 2022 - 19:47
UPDATED 06 July 2022 - 23:29
The local fixed-income market’s hammering continued on Wednesday with global investors rushing to the perceived safety of gold, the dollar and US treasuries as fear of a global recession gains momentum.
Yields on SA’s 10-year bonds, which move inversely to price, rose to their highest level since April 2020, soon after the world plunged into the Covid-19 pandemic. In intraday trade, the yield on the R2030 benchmark government bond hit 10.8%...
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