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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa Bond Auction climbed to 9.42% in November 2025
FMPMonthlyReleased December 2025
South Africa Bond Auction climbed to 9.42% in November 2025, released December 2025, up 0.01% from October's 9.41% reading.
Latest Release
9.419000
Actual
—
Consensus
9.408000
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/ZAR | ▼ Inverse | −0.50 | FOREX | Bullish ZAR | → View |
| EUR/ZAR | ▼ Inverse | −0.40 | FOREX | Bullish ZAR | → View |
| XAU/USD | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Bond Auction (South Africa) was reported at 9.42% in December 2025. The reading rose from the previous value of 9.41%. Trailing 12-month context per ETL data through December 2025. Over the past 12 months, the indicator has averaged 9.2%, ranging from 8.4% to 9.72% across 7 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 9.23%, down from the prior three at 9.43%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/ZAR (Bullish ZAR). A secondary relationship exists with XAU/USD, positively correlated (Watch).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Inflation Rate MoM (Jun 17) and Inflation Rate YoY (Jun 17).
Auto-generated from current model state · Refreshes on each release · Last update December 2025.
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Bond Auction - ZA
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About Bond Auction — South Africa
DEFINITION
A bond auction is a financial event where government or corporate entities sell bonds to investors in order to raise capital. These auctions are typically conducted through a competitive bidding process, with the highest bidder receiving the bonds at a predetermined interest rate. Bond auctions are an important indicator of market demand for debt and can provide insight into the overall health of the economy. They also play a crucial role in determining interest rates and can impact the cost of borrowing for both governments and corporations.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Dec 2025): actual 9.419 %. Prior reading (Dec 2025): 8.88 %. Before that (Nov 2025): 9.595 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/ZAR (Bullish ZAR, r=-0.50) — a useful reference for forex-focused traders.