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The rand has strengthened 2.4% this year and about 30% over the past 12 months while an emerging-market currency index fell. Morgan Stanley says South African bonds offer high real yields and attract investors as a safe haven within high-yield markets.
Rand-denominated government bonds have delivered strong returns despite rising US Treasury yields.
Foreign demand for high-yield rand assets keeps the currency firm, which lowers the local cost of imported feed inputs. Capital inflows can reverse quickly if global risk sentiment shifts.
moneyweb.co.zaKarin StroheckerApr 29, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
