South African Bonds Rally on Planned Buybacks and Auction Cuts
The government unveiled plans to cut weekly fixed-rate bond auctions and launch a bond buyback programme. The rand was little changed after the announcement of two months of fuel price relief.
South African bonds advanced on Wednesday after the government set out plans to reduce weekly fixed-rate bond auctions and introduce a bond buyback programme. The rand was little changed after the announcement of two months of fuel price relief.