Foreign investors unlikely to snap up SA bonds
National Treasury data shows just more than 25% of government bonds are held by foreign investors
23 October 2024 - 05:00
SA has experienced notable improvements in its macroeconomic landscape in recent months, resulting in enhanced sentiment and a stronger growth outlook. However, foreign investors are unlikely to flood back to SA bond markets until the middle of next year, Nedbank’s economics unit says.
The SA bond market has seen an exodus of foreign investors since 2017, when ratings agencies S&P Global and Fitch downgraded the sovereign rating to below investment grade, with Moody’s following suit in 2020...
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