South Africa dollar bonds drop on mounting pressure on President Ramaphosa

Sovereign dollar-denominated bonds issued by South Africa dropped around 2 cents on Thursday after mounting pressure on President Cyril Ramaphosa.

Longer-dated maturities suffered the biggest losses with the 2052 down 2.3 cents to trade at 85.917 cents in the dollar, Tradeweb data showed. (US836205BE37=TE)

South Africa's presidency will make an imminent announcement, Ramaphosa's spokesman said on Thursday, after an independent panel report published on Wednesday found preliminary evidence that the president may have violated his oath of office and committed serious misconduct.