Bonds were holding up well despite the weaker rand, but traders said they were keeping an eye on the rand.
The rand hit a fresh six-month worst level against the US dollar on Thursday, having broken through the R8 barrier.
By 11.35am the short-term government R154 bond was bid at 6.945% and offered at 6.925% after closing at 6.990% on Thursday and the medium-term R157 was at 8.190% from 8.240% at its previous close.
The long-term R186 was bid at 9.060% and offered at 9.030% from 9.110% previously.
The rand was bid at R7.8743/$ from R7.9358/$ at its previous close.
A local trader expected more uncertainty today as bonds continue to track the rand and external events.
Dow Jones Newswires reports that the euro was relatively stable in early European currency trading on Friday, on fear of central-bank intervention, as were core European government bonds.