South African Bonds Soar as Central Bank Signals Debt-Buying
- Yield on 2026 securities drops by most in 19 years; rand gains
- Move comes as yields hit records amid sell-off, cash crunch
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South African bonds soared, with the yield on the most-traded government securities falling by the most in 19 years, after the country’s central bank said it will start buying debt in the secondary market in an unprecedented intervention to boost liquidity.