South Africa Yields Drop Below 10% as Fiscal Outlook Improves
- Bonds yields were last at this level more than two years ago
- Nation’s local debt is best performing in world this quarter
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Yields on South Africa’s benchmark government bonds dropped below 10% for the first time since April 2022, as a global risk-on rally coincides with signs of fiscal stability at home.
The yield on the nation’s generic 10 year bond fell to 9.99% as of 10:23 a.m. in Johannesburg. South Africa’s rand climbed 0.1% to 17.1058 per dollar, its strongest level in 19 months.