South Africa Central Bank Ready to Act on Market Dysfunction

South Africa’s central bank said it’s monitoring the market and is ready to take action in the event of major dysfunction after the worst bond selloff since the outbreak of the pandemic.

The benchmark government 10-year yield jumped 23 basis points on Monday, taking its rise since the start of the Iran war to more than 70 basis points, the most in a similar period since March 2020, when Covid lockdowns roiled global markets.