THE South African bond market was off to a weak start on Friday morning, taking its lead from a rand that was significantly weaker against the dollar.The US nonfarm payrolls take the spotlight in the afternoon. Trading Economics expects the data to show that 189,000 jobs were created in September, from 151,000 in August.Rand Merchant Bank analyst Gordon Kerr traced the rise in local bond yields to "some risk management pre-Friday’s [nonfarm payrolls] print, as risky assets such as [emerging markets] come under pressure."The yield on the benchmark R186 was at 8.750% in early trade, from 8.695% on Wednesday.Benchmark bond yields in some of the major economies continued to grind higher in early trade, with the US 10-year treasury note rising to 1.7489% from 1.7031%. The equivalent UK note yielded 0.8598% from 0.7742%.
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