South African government bonds fell sharply and the rand reached its weakest in more than four weeks against the dollar on Monday, partly weighed down by concerns that the finance minister could be arrested.
Assets hostage to speculation over finance minister charges
Rand falls to 14.3850 to the greenback, off Friday's close at 14.3690 and softest since July 27.
South African Finance Minister Pravin Gordhan reacts during a media briefing in Johannesburg, South Africa, March 14, 2016. REUTERS/Siphiwe Sibeko/File Photo
* Rand falls to 14.3850 to the greenback, off Friday's close at 14.3690 and softest since July 27.
* Government bonds yields rise across the curve, 2026 benchmark adds 12 basis points to 9.085 percent, highest in nine weeks.
* Local assets track weaker Asian share markets after Federal Reserve indicates a U.S. interest rate increase remains on the cards for this year.
ADVERTISEMENT
* South African Reserve Bank deputy governor's speech at 1200 GMT could give local market further steer.
* Stocks to open a touch softer at 0700 GMT, blue chip futures index down 0.12 percent.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
How we reduced road traffic crashes by 42% – FRSC boss
Motorists express worry as long fuel queues resurface in FCT
Reno's $10,000 Challenge: I didn't build any school in Anambra, Obi opens up
Bullied student threatens Abuja school with lawsuit if abusers are not punished
EFCC withdraws appeal against Yahaya Bello
Gov Zulum wants Army to establish military base in Sambisa forest
2 Wike loyalists exit Fubara's cabinet as Governor reshuffles
Ganduje believes APC is the answer to Nigeria’s problems
Spate of deaths strikes Nigerian movie industry, Nigerians calls for action
ADVERTISEMENT