South African bonds firmer, rand steady after S&P review

South African government bonds firmed on Monday after S&P Global Ratings affirmed the country's investment-grade credit rating on Friday, but the rand failed to extend gains as the dollar recovered. S&P left its BBB- rating on Africa's most industrialised economy but warned that its negative outlook reflected the potential adverse consequences of low GDP growth. At 0757 GMT, the yield for the benchmark instrument due in 2026 was down 11 basis points to 9.09 percent, its firmest level sin