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Bond Flight From South Africa Spurs Warning

  • Torrent of outflows since May amid emerging-market selloff
  • Bond sales are a ‘concern,’ according to Treasury official
Updated on

Foreign investors’ holdings of South African bonds have dropped to the lowest level in more than a year following a record sell-off since the beginning of May, and a senior Treasury official says there could be worse to come.

Non-residents held 38.9 percent of government debt as of June 22, down from as high as 42.8 percent in March, according to Bloomberg’s calculations based on National Treasury data through April and Johannesburg Stock Exchange data for May and June.