World Economy

S. Africa Bond Market Falls

S. Africa Bond Market FallsS. Africa Bond Market Falls

The South African bond market was a lot weaker on Friday morning, as it tracked steep losses in the rand, BDLive reported. The yield on the benchmark R186 ($13.35) was at 8.760% in early trade, from 8.650% on Thursday. Global markets were mostly lower amid growing concern about the finances of Deutsche Bank. The bout of risk aversion knocked the rand, which in turn filtered down to the bond market. Benchmark bond yields in some of the major economies were lower in early trade, with the US 10-year note flattening to 1.53% from 1.57%.