South Africa unveils new fiscal anchor

South Africa's fiscal anchor has been anchored in place, with the government unveiling new rules to ensure fiscal sustainability and cutting weekly bond issuance to calm rising debt. This move has sent the yield on 10-year government bonds plummeting to 8.84%, the lowest in over a month, and lifted the rand to trade 0.1% stronger. The new fiscal anchor legislation, set to be tabled in parliament next year, marks a significant step towards stabilizing the country's finances.