Every week we give you our summary of happenings in the bond market.
The local bond market ended the week marginally weaker. The ongoing commodity market weakness, renewed concern about China, strong US monthly labour data and our own internal issues seeped into both the SA currency and bond markets. Our forward terms of trade indicator turned for the worse a while ago; one of a number of reasons why we prefer a defensive investment stance. Offshore investors are still taking an opposing view as demonstrated by another week of reasonably solid demand.