The yield on the South African 10-year bond bottomed around 10.2%, down from a 25-month high of 10.45% hit on June 13th, with investors rushing into safe-haven assets on worries that monetary policy tightening to tame inflation could cause a sharp global slowdown or recession. Meanwhile, South Africa's inflation rate quickened more than expected to a five-year high of 6.5% in May, breaching the upper limit of the South African's target range of between 3% and 6%, which is set to push the central bank to continue interest rate hikes.
Historically, the South Africa Government Bond 10Y reached an all time high of 20.69 in August of 1998. South Africa Government Bond 10Y - data, forecasts, historical chart - was last updated on June of 2022.
The South Africa Government Bond 10Y is expected to trade at 10.38 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 10.74 in 12 months time.