SA’s benchmark bond yields fell to multiweek lows as market concern that a possible recession in the US and Europe might further upend a struggling local economy appeared to outweigh fears of accelerating global inflation, which is making central banks increasingly hawkish.
The yield on SA’s R186 bond, which matures in December 2026, slipped 6 basis points on Monday to close at 8.76%, equalling the level on August 25, the lowest close since August 17. The yield on SA’s 2032 bond fell even more, losing 13 bps to 10.64%, the lowest since August 18. Yields fell across other areas of the SA sovereign yield curve on Monday, with Bloomberg reporting that four-year yields dropped 7 bps to 8.75% while 20-year yields shed 10 bps to 11.22%...
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