![One poll shifts South Africa's bond market fortunes 1 (Darren Stewart/Gallo Images)](https://cdn.24.co.za/files/Cms/General/d/11808/2bd83bd943bd49ad8f7ee1855ce9c135.jpg)
(Darren Stewart/Gallo Images)
Recent opinion polls have brought relief to South African bond investors, easing anxiety about the upcoming election. A poll conducted by Ipsos on 26 April served as a turning point, reassuring investors worried about potential outcomes that could lead to a volatile coalition government. In response to the poll, Citigroup strategists have become optimistic, increasing their investment in South African debt.
Despite trailing behind other emerging markets earlier in the year, South African local currency bonds have surged ahead following the poll results. Since then, the country’s debt has outperformed all developing nations except Argentina, with investors seeing returns of 5.5% in dollar terms compared to the 0.8% average during that period.
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