The yield on the 2015 bond fell to 5.47 percent while the 2026 issue dropped to 7.74 percent.

"There was a bit of late afternoon buying, particularly in the long end, which had taken a bit of knock. We saw real money buying early in the week and it looks like a continuation of that," said a local fixed income dealer.

Bonds and the currency were finding support on Friday as some dealers said the selling looked overdone, even though there was a risk of yields spiking again.

The rand was at 8.9330/ dollar at 0644 GMT, after weakening to nearly 9 rand on Thursday, which would be a 3-1/2 year low.  "There was a general risk-off scenario around the world and the charge into risk assets dissipated a little bit," said Malcolm Charles, a fixed income portfolio manager at Investec.

"People are cautious on South Africa and markets are nervous because of that."

The last time the currency came near the 9 rand/dollar level was on October 8, when market players speculated the central bank had stepped in to stop the currency hitting the key level.

"As long as dollar/rand stabilises near 8.90 today and ends the week above 8.84, then the uptrend remains firmly in place," said Absa Capital's Judy Padayachee, adding that she expected a 8.89-8.98 range in the session.

The bank said it was looking to buy dollars at 8.88-8.90 today to target 9.20 in the weeks ahead.

Treasury will sell inflation-linked 2022, 2038 and 2050 paper at 0900 GMT, with results due after the auction closes.