South African bonds flat in light trade

South African government bonds were little changed on Monday morning‚ with few major catalysts to give the market direction.

The May Day public holiday on Tuesday is expected to thin out trading conditions‚ while globally‚ the focus was on slow progress in talks to denuclearise the Korean peninsula.

Dow Jones Newswires reported that holidays in Russia‚ China and Japan also helped reduce liquidity on global markets.

Much focus will also be on a US interest-rate decision on Wednesday‚ but the US Federal Reserve is widely expected to leave rates unchanged.

The statement would‚ however‚ set the tone for the rest of the week‚ said Rand Merchant Bank analysts.

At 10:17am‚ the R186 was bid at 8.20% from 8.21% and the R207 at 7.10% from 7.11%.

The rand was at R12.3478 to the dollar from R12.3535.

The benchmark 10-year US treasury note was last seen at 2.9714% from 2.9629%.

– BusinessLIVE

Source: TMG Digital.

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