for subscribers

Rand leads global currency gains, bonds hit pre-Nenegate levels

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Johannesburg - South African benchmark government bonds gained, driving yields to levels last seen before President Jacob Zuma fired Nhlanhla Nene as finance minister in December, while the rand led global currency gains as foreign investors piled into local stocks and bonds.

Yields on government rand bonds dropped for a second day as global markets rebounded from the initial Brexit fallout amid speculation that policy makers around the world would act to mitigate the negative impacts of the UK decision to leave the European Union.

By 13:14 in Johannesburg, the benchmark December 2026 yield was down 9 basis points to 8.8%, the lowest since December 7, just two days before Zuma replaced Nene with a little-known lawmaker as finance minister, sending the rand and bonds to record lows.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.35
(+0.20)
ZAR/GBP
22.73
(+0.11)
ZAR/EUR
20.56
(+0.07)
ZAR/AUD
12.46
(-0.06)
ZAR/JPY
0.16
(-0.11)
Gold
1943.35
(-0.68)
Silver
26.38
(-3.85)
Platinum
943.00
(-1.66)
Brent Crude
45.01
(-1.03)
Palladium
2109.00
(-2.75)
All Share
57077.48
(-0.60)
Top 40
52737.48
(-0.65)
Financial 15
10156.41
(-0.69)
Industrial 25
75107.47
(-0.84)
Resource 10
58926.78
(-0.40)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1004 votes
It depends on how the funds are used.
74% - 6747 votes
No. We should have gotten the loan elsewhere.
15% - 1417 votes
Vote