Money SA economy
Bonds recovered slightly in late trade on Tuesday, as the rand recouped some of its earlier losses.
By 3.30pm, the short-term government R154 bond was bid at 6.805% and offered at 6.785% after closing at 6.790% on Monday and the medium-term R157 was at 8.050% from 8.040% at its previous close.
The long-term R186 was at 8.970% and offered at 8.950% from 8.940% previously.
The rand was bid at R7.7067/$ from R7.6623/$ at its previous close.
A local trader said bonds were a tad firmer in line with the rand.
"Bonds are a bit firmer due to a rand that has recovered since midday," the trader said.
At its weekly auction on Tuesday, the National treasury received bids totalling R4.12 billion for R1.7 billion worth of R203 bonds and bids totalling R1.565 billion for R400 million worth of R214 bonds.
A trader said that the auction had no effect on the bonds.
Foreigners were net buyers of R63.292 million of bonds including repo transactions on Monday after net sales of R899.475 million of local bonds on Friday, Bond Exchange of South Africa statistics show.
