Every week we give you our summary of happenings in the bond market.
The yield curve flattened ever so slightly in response to the decision by the South African Reserve Bank to keep the repo rate unchanged. Meanwhile foreign investors kept accumulating local bonds still backed by the same reason – very low global bond yields. With the October mini-budget around the corner, the release of the latest monthly national budget data will be one of the key data releases this week. We remain very anxious about the risks to fiscal consolidation.