South Africa’s 10-year government bond yield climbed to near 8.75%, the highest since July 30, tracking a broader movement in global markets. The relief following the massive buyback announced by the US Treasury Department of long-term government bonds.was short-lived, as investors remain doubtful that the expanded purchases will provide a lasting reduction in borrowing costs. Rising debt and widening deficits added to concerns over the inflationary impact of a prolonged Middle East conflict. Domestically, South Africa’s annual inflation slowed to 4.3% in July from 5% in June, marking its first decline in five months and coming in below the 4.5% consensus. However, inflation remains above the central bank's 3% target and the easing could prove short-lived amid renewed increases in global oil prices. South Africa is particularly exposed because it imports crude oil and finished petroleum products.