Every week we give you our summary of happenings in the bond market.
From a bond market perspective, this week will be overshadowed by the S&P and Moody’s rating announcements on Friday. We have been maintaining since last year that the rating agencies are way behind the curve in terms of downgrade action. What we cannot state with any degree of certainty is whether the rating agencies agree and/or whether they would like to wait until after the December ANC Elective Conference. The market will also keep one lazy eye on the MPC meeting where our view of an unchanged repo rate remains anchored in concrete. Similarly, the October CPI release will most likely turn out to be a non-event from a bond market perspective.