South Africa’s virus rescue package has bond investors on the run
JOHANNESBURG – There’s just no let-up for the emerging world’s worst-performing debt.
Investors aren’t buying the South African government’s assurance that it won’t significantly increase debt sales to fund a massive economic rescue package.
Yields on government rand-denominated bonds have climbed more than 50 basis points since President Cyril Ramaphosa announced the 500 billion rand ($26 billion) fiscal injection on Tuesday.
Source: iol.co.za
