Rand and bonds advance on GDP data

The rand has strengthened for the first time in four days, while benchmark bond yields pulled back from near their highest since October after data showed the economy grew more than expected in the fourth quarter of 2020.

Stats SA said the economy grew at a seasonally adjusted and annualised 6.3% in the final three months of 2020, which was better than the anticipated 5.6% adjusted quarter-on-quarter expansion predicted by the median estimate of 15 economists surveyed by Bloomberg…