Bloomberg News

South Africa Yields Fall, Rand Gains as U.S. Retail Sales Drop

July 16, 2012

South Africa’s rand-denominated bond yields fell to record lows and the rand gained after retail sales in the U.S. unexpectedly declined for a third straight month in June.

Yields on 6.75 percent notes due 2021 dropped six basis points to 6.91 percent as of 2:40 p.m. in Johannesburg. The rand climbed 0.2 percent to 8.2466 per dollar, reversing a decline of as much as 0.3 percent in earlier trading.

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