S. Africa Bond Outflows Surge as Iran War Dims Appeal

The Iran war sparked the biggest outflow in at least six years from South Africa’s bond market as foreign investors lost their appetite for one of the most popular emerging-market trades of recent months.

Non-residents sold a net 41.3 billion rand ($2.45 billion) of government bonds last week, according to the latest JSE Ltd. data tracking settled trades. That’s the biggest weekly outflow on record since at least 2019, when Bloomberg started compiling the data.