South Africa’s National Treasury will probably keep the levels of its bond auctions constant until the end of the fiscal year, even with domestic-debt issuance running ahead of target. The Treasury is unlikely to “adjust its in-year bond auction levels due to the short time period remaining after the presentation of the 2021 budget,” its media desk said Wednesday in an emailed response to questions, while emphasizing that the department “does not front-run the budget.”
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