South Africa's government bonds, rand were traded at a lower rate on Monday. Dealers sold off some bonds on Monday which raised the yields to as much as 8.5 basis points .

In the early trade on Tuesday, the yield on the 2015 bond ZAR157 was up 3.5 basis points to 7.80% and that on the longer-dated 15-year debt ZAR186 climbed 5 basis points to 8.745 %.

Analysts say bonds could also be under pressure of some dealers regarding the rising oil price and the impact which these bonds could have on inflation. The rand ZARD3 was weaker against the dollar in overnight trade.

The dollar was traded at 6.64 rand in Johannesburg trade and by the end of the New York session was up at 6.6885 rand. At the early morning trading , the dollar had gained 0.36% to 6.7125 rand.

By 11.50am, the benchmark R157 bond was traded at 7.765% from its previous close of 7.740%, while the R207 was bid at 8.525% from its previous close of 8.470%. The R186 was trading at 8.735% from its previous close of 8.680%.