South African Bonds Plunge as Oil Surge Fuels Inflation Fears

South African government bonds extended their worst selloff since the Covid pandemic as concern mounted that soaring oil prices and a weaker rand will fuel inflation, forcing the central bank...

By Robert Brand, Mpho Hlakudi · Bloomberg Markets

South African government bonds extended their worst selloff since the Covid pandemic as concern mounted that soaring oil prices and a weaker rand will fuel inflation, forcing the central bank to resume interest-rate increases.