The JSE slipped a little on Friday morning, but the rand was steady, as markets continue to eye President Cyril Ramaphosa's next move as well as a key US jobs report. | News24_Business
The rand and JSE were somewhat steady on Friday morning, having seen significant volatility on Thursday.
Local markets were pummelled on Thursday as investors digested a possible exit for Ramaphosa, generating uncertainty about the future of SA politics, and the state of the budget deficit. SA's ten-year bond was stronger, trading at 10.845% - about a 0.87% improvement - having had their worst day since 2015 on Thursday.
It was arguably one of the most intense trading sessions for SA government bonds yesterday as the market started to factor in the distinct possibility of life without Ramaphosa, Nedbank Corporate and Investment Banking analysts said in a note. The local financial markets are all awaiting insights from the president on the way forward, the analysts said. Globally, the focus will be data releases.
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