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Bonds ease to no US quantitative easing
August 31, 2012--South African bonds eased in afternoon trade on Friday after US Federal Reserve chairman Ben Bernanke signalled that there would be no further quantitative easing (QE) in the short term.
In 2010 Bernanke used the Jackson Hole conference to signal the second round of QE.
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Source: FIN24
Rand weakens after Bernanke's speech
August 31, 2012--The rand weakened against its major trading partners in late trade from the morning levels after the US central bank chief announced no additional monetary easing as most in the market had anticipated.
At 16:17‚ the rand was bid at R8.4412 to the dollar from R8.4938 at Thursday’s close. It was bid at R10.6248 to the euro from its previous close of R10.6241 and at R13.3738 against sterling from R13.4043 before.
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Source: FIN24
JSE drops to four-week closing low
August 30, 2012--The JSE share market fell across the board on Thursday to close at levels not seen in four weeks as market participants cleared their positions ahead of the Jackson Hole event on Friday, in which the US central bank chief is expected to provide some clues on monetary easing.
General mining shares in particular came under heavy selling pressure‚ which dealers ascribed in part to lower commodity prices due to signs of a slowdown in the Chinese economy.
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Source: FIN24
Bonds firm despite July R57.5bn deficit
August 30, 2012--South African bonds were firm in afternoon trade on Thursday despite a weaker rand and a R57.5bn July fiscal deficit.
“We have been trading firmer on foreign buy orders the whole day. The rand has not been a factor‚ while the fiscal deficit is volatile on a monthly basis‚ so what is important is the trend and that remains on track‚” a local bond trader said.
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Source: FIN24
Rand weaker, awaits Bernanke
August 30, 2012--The rand was weaker in late trade on Thursday, albeit off its intraday low, on the back of a Chinese economical slowdown and due to SA's own internal mining problems.
“The rand touched R8.48 around lunchtime today but has come back a bit. All commodity currencies are weaker today due to a Chinese slowdown. Locally we are still dealing with labour problems in the mining sector and the bad press overseas is not rand positive. The rand has weakened steadily over the last week. Markets are on hold until Federal Reserve Chairman
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Source: FIN24
JSE pares losses to end almost flat
August 29, 2012--The JSE share market pared early losses to finish relatively flat on Wednesday.
Resource shares in the main came under selling pressure amid diminished prospects of stimulus measures from the US Federal Reserve following the upward revision of growth in the US economy in the second quarter‚ said Rob Towell‚ senior equities trader at Consilium Securities.
US GDP grew 1.7% in the second quarter over the previous quarter‚ up from an original reading of 1.5%.
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Source: FIN24
Bonds firm on offshore interest
August 29, 2012--South African bonds were firm in afternoon trade on Wednesday on the back of offshore interest, but traders said volumes were light.
"There was no local data due today so the foreign buying moved the market‚ but basically the market is waiting until Friday’s Jackson Hole conference‚” a local bond trader said.
At 15:50‚ the benchmark R157 bond was trading at 5.510% from 5.540% at Tuesday’s close. The R207 was trading at 6.630% from Tuesday’s close of 6.640%‚ and the R186 was trading at 7.520% from 7.545%.
The rand was bid at R8.3904 per dollar from R8.3937 at Tuesday’s close.
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Source: FIN24
Bonds weak ahead of Tuesday's GDP data
August 27, 2012--South African bonds were weak in thin afternoon trade on Monday ahead of Tuesday's gross domestic product (GDP) data release. Monday was a bank holiday in the UK.
"It was a very dull day with London out of the market. In addition‚ few players wanted to take a large position ahead of tomorrow’s GDP release‚” a local bond trader said.
At 15:36‚ the benchmark R157 bond was trading at 5.590% from 5.560% at Friday’s close. The R207 was bid at 6.680% and offered at 6.655% from 6.655%‚ and the R186 was trading at 7.580% from 7.555%.
The rand was trading at R8.3941 per dollar from R8.3520 at Friday’s close.
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Source: FIN24
Yields on bonds supported, rand weak
August 24, 2012--South African government bonds firmed on Friday as offshore demand, soft inflation and weak growth prospects combined to rally yields this week, but a weak rand that looks set for further falls is applying pressure.
Dealers said the next couple of weeks look favourable for the paper ahead of the next central bank policy-setting meeting as well as the inclusion of South African bonds into a prominent world government bond index on October 1.
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Source: FIN24
Stimulus hopes buoy JSE, global markets
August 23, 2012--The JSE share market remained on the front foot at noon on Wednesday, as were leading global equities, after the latest signals of additional monetary easing from the US Federal Reserve added to market buoyancy.
Mining shares led the upside‚ benefiting from the rise in commodity prices as the US dollar weakened against major currencies.
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Source: FIN24