The rand and JSE were somewhat steady on Friday morning, having seen significant volatility on Thursday.
Local markets were pummelled on Thursday as investors digested a possible exit for Ramaphosa, generating uncertainty about the future of SA politics, and the state of the budget deficit. SA's ten-year bond was stronger, trading at 10.845% - about a 0.87% improvement - having had their worst day since 2015 on Thursday.
It was arguably one of the most intense trading sessions for SA government bonds yesterday as the market started to factor in the distinct possibility of life without Ramaphosa, Nedbank Corporate and Investment Banking analysts said in a note. The local financial markets are all awaiting insights from the president on the way forward, the analysts said. Globally, the focus will be data releases.
_Business If he lose conference what is going to happen because anc is political party like other parties
_Business Stop messing with our rand. He is not resigning.
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