Every week we give you our summary of happenings in the bond market.
Global bond markets remain undeterred by continually strong US employment statistics as underlying inflationary pressure remains stubbornly absent. Some good news – in an otherwise uninspiring third quarter domestic growth print – was provided by the surge in gross domestic fixed investment (4.3% q/q). A sustained improvement in investment expenditure over the medium term will be critical to altering our bearish bond stance. Politics take center stage this week as market focus now turns to the much anticipated 54th ANC National Conference.