South Africa's Godongwana: Investment-grade status 'within reach' after bond rally

South Africa's Finance Minister Enoch Godongwana stated that investment-grade status is 'within reach' following a market-friendly Medium-Term Budget Policy Statement. The 10-year bond yield fell 20 basis points to 8.72%, below Mexico's 9.30% despite Mexico's higher rating, signaling improved investor sentiment. The statement suggests a potential upgrade path, but actual rating agency actions remain uncertain.

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