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Bond Wrap-up 02/05

02 May 2017

Bond Wrap-up

Every week we give you our summary of happenings in the bond market.

The local bond market ended a short week little changed, despite interest rate positive data. Meanwhile, global flows into emerging bond markets, including the South African market, continue unabated. The potentially lethal combination of the continued sharp increase of local currency bonds in foreign investor hands, and the risk of a possible double notch sovereign ratings downgrade from a sleepy Moody’s rating agency should not be underestimated.