Foreigners are pouring billions into South African bonds – that’s good news for taxpayers | BISouthAfrica
The demand for SA bonds should make it cheaper for government to borrow money - easing the load on taxpayers..
South Africa yields are standing out, says Wikus Furstenberg, portfolio manager and head of interest rate process at Futuregrowth Asset Management. This was in response to a significant drop in market liquidity at the start of the coronavirus crisis. The Reserve Bank bought just more than R30 billion in bonds in April and May. The buying of government bonds in the secondary market intended to prevent the local bond market from freezing up, Furstenberg says.
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