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Bonds versus corona - everybody scurries for dollar cash

17 March 2020 8:04 PM
Tags:
Michael Keenan
Coronavirus
bons

Michael Keenan explains how bonds fared in the bloodbath that the virus is causing on markets.

Yields on SA bonds are higher than they have been.

In some respects it seems as if there's more panic in the bond market now than there was in the days after Nhlanhla Nene was fired.

Yes, there is a lot of panic going through the bond market - and it's really stemming from global factors. We see at the moment there is a huge scurry for dollar cash. Cash is king.

Michael Keenan, currency strategist - Absa

Basically people are liquidating any risky positions they've had. We've seen it in the equity market and now it's starting to filter through in the bond market. And SA is caught up in that scurry for dollars.

Michael Keenan, currency strategist - Absa

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17 March 2020 8:04 PM
Tags:
Michael Keenan
Coronavirus
bons

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