Money SA economy
South African bonds were little changed in quiet trade on Wednesday ahead of the release of retail trade sales data later in the morning.
By 8.20am the short-term government R154 bond was untraded after closing at 6.715% on Tuesday and the medium-term R157 was at 7.945%, unchanged from its previous close. The long-term R186 was bid at 8.875% and offered at 8.825% from 8.845% previously.
The rand was bid at R7.2529/$ from R7.2934/$ at its previous close.
Attention today focuses on February retail trade sales. Although retail sales growth has disappointed recently, economists are expecting a slight pick up to have occurred in February. Negative real growth of 4.9% was reported in retail sales in 2009, with January 2009 the only month to have posted positive growth. In January 2010, real retail sales growth was still 1.7% down on the same month in 2009.
AbsaCapital analysts said in their morning report that a positive headline print for the sector in February will end a 12-month run of declines and point to a consumer sector that is in recovery mode.
