1 Min Read
JOHANNESBURG, March 29 (Reuters) - South Africa's rand and government bonds were on the back foot early on Wednesday over speculation of an imminent cabinet shake-up that could see Finance Minister Pravin Gordhan removed.
* Gordhan abandoned an investor roadshow and flew home on Tuesday on the orders of President Jacob Zuma, triggering speculation about his future.
* Gordhan's recall rattled investors who see him as a focus of stability and is widely respected in financial markets.
* At 0645 GMT, the rand traded at 13.0475 per dollar, 0.48 percent weaker from its New York close on Tuesday.
* In fixed income, the yield for the benchmark government bond due in 2026 rose 11.5 basis points to 8.855 percent.
* Stocks were set to open higher at 0700 GMT, with the JSE securities exchange's Top-40 futures index up 0.49 percent. (Reporting by Olivia Kumwenda-Mtambo; Editing by Alison Williams)