Money SA economy
Bonds were up to eleven basis points firmer in late trade on Friday, as they continued to rally on disappointing US jobs data that has renewed concerns about the pace of global economic recovery.
Data on Thursday showed that US jobless claims unexpectedly rose to their highest level in nine months, further stoking fears about the country's already weak labour market. The US Labour Department said on Thursday that initial unemployment claims rose by 12 000 to 500 000 in the week ended August 14.
"It was the highest level since November 14, when claims stood at 509 000," said the Labour Department. By 3.50pm the benchmark R157 bond was at 7.260% after closing at 7.320% on Thursday. The benchmark R207 was at 7.850 from 7.970%, while the R186 was at 7.880% from 8.000%.
