The fixed income market was supported by the easing in monetary policy and healthy appetite for domestic bonds by non-residents. Non-residents purchased a net R24 billion worth of domestic bonds in the fourth quarter of 2009 and purchased over R 30 billion in the first four months of 2010.
The international bond issues of the South African Government in 2009 and 2010 were also well received, as confirmed by the latest USD 2,0 billion issue in March 2010, which realised the lowest coupon ever achieved on a USD bond issue.