South African bond curve steepens as finances deteriorate

Foreign investors sold R5.1billion worth of South Africa bonds last week, data from the Johannesburg Stock Exchange showed. The selling of local bonds in the week ended September 15 compares to a net purchases of R4,7billion the same time last year. It also comes amid growing concerns of South Africa fiscal situation with government revenue expected to undershoot expectations, while spending pressures to reignite growth in the economy mount. Mandisa Zavala, Head of Asset Allocation, Alexforbes joins CNBC Africa for more.
Mon, 18 Sep 2023 13:51:25 GMT