Bonds firm on budget speech but steep yield curve remains a worry
Tito Mboweni said the Treasury expects the country’s debt to be close to 81.8% of GDP by the end of this fiscal year
24 June 2020 - 15:59
UPDATED 24 June 2020 - 18:49
Longer-dated bonds will likely continue to underperform as investors try to work out how the government will fund its larger borrowing requirements.
This came even as yields dropped on Wednesday after finance minister Tito Mboweni said in the supplementary budget that the government may approach international financial institutions to finance the country’s rising debt, allaying concerns that the Treasury may dig deeper into the local bond market...
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