“Deutsche Bank Strategists Recommend Buying ‘Extremely Cheap’ South Africa Bonds”
May 22, 2023
” Deutsche Bank AG strategists recommend buying South African government bonds after a selloff that drove yields to near the record highs seen during the pandemic…
The view puts Deutsche Bank at odds with many foreign investors, who have been dumping the bonds amid South Africa’s deepening power crisis, deteriorating fiscal outlook, weakening rand and a row with the US over Pretoria’s relations with Russia. Year-to-date outflows from the government bond market topped $1.4 billion last week, exceeding the $1.1 billion for the whole of 2022, according to JSE Ltd. data compiled by Bloomberg…
Deutsche Bank forecasts a rally in the benchmark 10-year yield to around 10% by year-end, from around 11.75%. Yields across the curve could drop by as much as 200 basis points, they wrote…”
https://finance.yahoo.com/news/deutsche-bank-strategists-recommend-buying-094825304.html