Government bond auction · South Africa
South Africa 2040 Bond Auction
The South Africa 2040 Bond Auction is a sale of new government debt by South Africa's treasury or debt agency to investors.
- Importance
- Low
- Released
- Every two weeks
- Currency
- ZAR · South African rand
- Central bank
- The South African Reserve Bank
Latest figures
The latest release, published on 27 October 2026, came in at 9.050%, down from 9.238% the time before.
Over the last 12 releases it ranged from 8.708% to 9.420%, averaging 9.137%; it has been falling for three releases in a row.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 27 Oct 2026 | – | 9.050% | – | 9.238% |
| 20 Oct 2026 | – | 9.238% | – | 9.395% |
| 6 Oct 2026 | – | 9.395% | – | 9.420% |
| 15 Sep 2026 | – | 9.420% | – | 9.239% |
| 8 Sep 2026 | – | 9.239% | – | 9.202% |
| 18 Aug 2026 | – | 9.202% | – | 9.091% |
| 4 Aug 2026 | – | 9.091% | – | 9.047% |
| 7 Jul 2026 | – | 8.708% | – | 8.762% |
| 17 Jun 2026 | – | 8.762% | – | 9.319% |
| 12 May 2026 | – | 9.319% | – | 9.316% |
| 5 May 2026 | – | 9.316% | – | 8.909% |
| 21 Apr 2026 | – | 8.909% | – | 9.314% |
Why it matters
Auctions show the demand for a country's debt. A weak auction (low cover ratio, a yield above where the bond traded before the sale, the "tail") can push yields up across the market; a strong one calms them. In times of fiscal stress auctions get close attention.
How it is calculated
Bidders submit the yield (or price) at which they will buy; the debt office allocates from the lowest yield up until the amount is sold. The release reports the average or highest yield and the bid-to-cover ratio.
Bid-to-cover = amount bid ÷ amount soldWhat changes mean
- Bid-to-cover above its recent average and no tail: solid demand.
- Index-linked and green bonds are smaller auctions with their own investor base.
A short history
Most governments moved from fixed-price syndicates to regular auctions in the 1970s–1990s; the US Treasury has auctioned bills since 1929.
Questions
What is the South Africa 2040 Bond Auction?
The South Africa 2040 Bond Auction is a sale of new government debt by South Africa's treasury or debt agency to investors.
What was the latest South Africa 2040 Bond Auction?
9.050%, published on 27 October 2026.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.