S Africa dollar bonds extend gains as Ramaphosa elected ANC leader

South Africa’s sovereign dollar bonds extended gains on Monday after the ruling ANC party declared Deputy President Cyril Ramaphosa its next leader, with some longer-dated issues up as much as 1.5 cents on the day.
The 2044 issue rose 1.6 cents to 99.3 cents in the dollar, according to Tradeweb, the highest level since mid-September and the 2041 bond rose 1.3 cents to 110.3 cents, also a three-month high.