Government bond auction · South Africa
South Africa 2048 Bond Auction
The South Africa 2048 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 20 January 2026, came in at 9.295%, up from 9.204% the time before.
Over the last 6 releases it ranged from 9.204% to 9.896%, averaging 9.514%.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 20 Jan 2026 | – | 9.295% | – | 9.204% |
| 13 Jan 2026 | – | 9.204% | – | 9.400% |
| 9 Dec 2025 | – | 9.400% | – | 9.595% |
| 25 Nov 2025 | – | 9.595% | – | 9.691% |
| 11 Nov 2025 | – | 9.691% | – | 9.896% |
| 4 Nov 2025 | – | 9.896% | – | – |
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 2048 Bond Auction?
The South Africa 2048 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 2048 Bond Auction?
9.295%, published on 20 January 2026.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.