South Africa: 10-Year Bond Yield at 2015-Lows.

South Africa’s 10-year government bond yield eased further to around 7.91%, nearing the lows last recorded in March 2015, reflecting investor optimism ahead of the 2026 budget, as inflation is seen as anchored and fiscal risks are contained. Finance Minister Enoch Godongwana will outline South Africa’s fiscal strategy when presenting his budget to lawmakers on February 25, with soaring commodity prices expected to generate a windfall from higher-than-anticipated tax revenues. Godongwana is also expected to provide further details on measures designed to foster economic growth and encourage investment. Meanwhile, the upcoming inflation data for January will be closely watched for clues on the SARB's policy path.