Political risk? Bring it on, say investors in SA debt

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Cape Town - As the rand tumbled and bond yields surged while South Africa’s political drama unfolded, not all investors were running for the exit.

Foreigners bought a net R11.2bn of South African bonds in the week ending March 31, more than double the previous week and the most since the five days ending June 24, according the Johannesburg Stock Exchange data. The inflows continued even after President Jacob Zuma fired Finance Minister Pravin Gordhan on Thursday.

SEE GRAPH:  Volatile rand dives sharply amid uncertainty

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Rand - Dollar
14.33
+1.0%
Rand - Pound
19.93
+0.8%
Rand - Euro
17.00
+1.1%
Rand - Aus dollar
10.59
+0.6%
Rand - Yen
0.13
+0.8%
Gold
1,810.07
-0.2%
Silver
25.53
+0.5%
Palladium
2,658.50
-1.0%
Platinum
1,053.00
-0.6%
Brent Crude
72.89
-3.3%
Top 40
62,543
-0.3%
All Share
68,706
-0.2%
Resource 10
71,203
+1.0%
Industrial 25
86,170
-1.8%
Financial 15
13,129
+1.7%
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