FX.co ★ South Africa 10-Year Bond Yield Inches Up

South Africa’s 10-year bond yield inched up to around 8.54% after hitting a one-month low on April 8, as investors reconsidered the stability of the US–Iran truce and scaled back exposure to risk assets. Persistent restrictions on shipping through the Strait of Hormuz, intensifying Israeli strikes in Lebanon, and renewed threats from US President Trump have kept geopolitical risk elevated ahead of the planned US–Iran talks on Saturday. This backdrop pushed oil prices higher again, rekindling worries about energy-driven inflation and raising the likelihood of interest rate hikes by major central banks.