![Transformative poll boosts 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)
One influential opinion poll changed the game for South African bond investors, easing election anxiety. The 26 April Ipsos poll alleviated concerns of a potential unpredictable coalition government, prompting Citigroup strategists to turn positive and overweight on the debt.
South African local currency bonds had been lagging behind emerging markets until the poll. Since then, the debt has outperformed all developing nations (excluding Argentina) tracked by Bloomberg, delivering returns of 5.5% in dollar terms compared to an average of 0.8% over the same period.
Stay informed about the latest news in South Africa to help shape a prosperous future. News24 has been providing trustworthy journalism for 25 years and continues to empower and inspire readers. Subscribe now for a free trial to access this story and stay updated on important events.