MARKET REACTION
Bonds welcome radically better debt projections
Government and Eskom bonds rally on medium-term budget’s improved debt outlook
26 October 2022 - 23:50
Bonds issued by the government and Eskom rallied on Wednesday after finance minister Enoch Godongwana delivered a medium-term budget that outlined radically improved fiscal debt projections.
The yield on the R2030 bond, which pays an 8% coupon and matures on January 31 2030, fell 16 basis points from the previous day’s close to 10.74% at 4.51pm...
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