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Bonds firm after weekly auction
September 6, 2011-- South African bonds remained firm in midday play on Tuesday after the weekly government bonds auction, which a trader said had gone "quite well".
The National Treasury received bids totalling R2.54bn for R1.1bn worth of R209 bonds at a clearing yield of 7.960% and bids totalling R2.87bn for R1bn worth of R214 bonds at a clearing yield of 8.010%.
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Source: FIN24
JSE down amid US economy worries
September 5, 2011--The JSE tracked global stocks to open weaker on Monday as markets continued to respond to Friday's disappointing US jobs data. Markets were worried about growth prospects for the world's largest economy.
A local trader said the JSE opened weaker in line with the "performance in international markets." She said that although the US was closed for a holiday, US futures were still "pointing weaker". The trader also expected a "quiet day ahead, volume wise," due to the closed US market.
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Source: FIN24
JSE, global stocks hit by US data
September 2, 2011-- South Africa’s Top 40 - (Tradeable) [JSE:J200] blue-chip index dropped more than 2% after US nonfarm payroll figures ignited fears the world’s biggest economy could be headed for a recession.
“It took a big knock when those numbers came out,” said Ferdi Heyneke, a portfolio manager at Afrifocus Securities.
“This is still the concern that the United States is kind of heading for a recession. We will now have to wait and see.”
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Source: FIN24
SA bonds hit record after US jobs data
September 2, 2011--South Africa’s government bonds extended gains on Friday, with one benchmark issue hitting an all-time high after weaker-than-expected US jobs data fuelled fears of a significant global growth slowdown.
Yields fell sharply across the curve, with the 2015 bond yield hitting record lows at 6.32% before coming back to 6.345%. The 2026 yield fell 13.5 basis points on the day to 7.895%.
The rand softened after the data to R7.04/$ from R6.9950/$ prior to the data release.
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Source: FIN24
SA bonds gain, rand softens on factory data
September 1, 2011--South Africa’s bonds firmed across the curve on Thursday after PMI data showed the manufacturing sector contracted for the second month in August, supporting the case for accommodative monetary policy.
The rand softened to the dollar after its gains to three-week highs below R7.00/$ attracted importers to buy dollars.
Stocks ended in positive territory after starting off on the back foot and investors will be watching US non-farm payrolls on Friday for direction.
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Source: FIN24
JSE follows global markets higher
August 31, 2011--The JSE was trading higher at noon on Wednesday following global markets buoyed by speculation that the fed would provide some sort of stimulus in the US.
A local trader said there was a lot of confidence in the markets after the fed made it clear that they would take necessary measures fuelling speculation that some sort of stimulus would take place in the US.
The trader said: "People are switching out of defensive stocks and looking at the diversified miners."
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Source: FIN24
Bonds mixed as curve steepens
August 31, 2011--South African bonds were mixed in midday trade on Tuesday, owing to a much steeper curve and poor liquidity in the market, according to a local trader.
By 11:48, the benchmark R157 bond was trading at 6.445% from 6.500% at the previous close. The R207 was bid at 7.635% and offered at 7.700% from 7.655% and the R186 was trading at 7.980% from a close of 7.925%.
The rand was bid at R7.0249 against the dollar from its previous close of R7.0700.
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Source: FIN24
Rand gains, breaks through key level
August 31, 2011--The rand gained over 1% against the dollar, breaching the key R7/$ figure in afternoon trade on Wednesday, following a higher close on the Johannesburg equity market.
The rand was at 7.0054 to the dollar in late afternoon trade, 0.91% firmer than its previous close in New York. It briefly touched a session high of R6.9932/$ as local stocks closed at their highest in four weeks and sentiment filtered to the rand, dealers say.
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Source: AME Info
JSE ends higher on consolidation
August 30, 2011--The JSE ended marginally higher on Tuesday as it consolidated following the previous day's strong performance.
The local exchange hovered along a flat line for most of the trading session after registering a 2.95% gain on Monday.
By 17:00 local time, the JSE All Share [JSE:J203] index was up 0.24% to 30,365.13 points. Gold stocks led the way with a 1.05% rise, while industrials picked up 0.59%, resources gained 0.37%, platium miners lifted 0.23%. Banks however, lost 1.01%, while financials shed 0.77%.
The rand was trading at 7.07 rand to the dollar, from 7.02 at the JSE's close on Monday.
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Source: FIN24
Bonds firm in late trade
August 30, 2011--South African bonds remained firm in quiet late trade on Tuesday. A bond trader said the GDP figure had been positive for bonds, as it indicated that the Reserve Bank would be inclined to keep rates lower for longer.
By 15:50, the benchmark R157 bond was trading at 6.480% from 6.550% at the previous close. The R207 was trading at 7.630% from 7.680% and the R186 was trading at 7.950% from 7.930%
The rand was bid at 7.0727 against the dollar from its previous close of 7.0443.
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Source: FIN24