A current-account balance that’s swinging into deficit is adding pressure on South Africa to stem a foreign-investor flight from the government bond market. While non-residents have offloaded government bonds worth R60.6-billion on a net basis over the past three years, current-account surpluses had tempered the need for portfolio inflows. That’s changing now, and it may soon be necessary for the country to lure back foreign money. That means a weaker currency, rising bond yields, or both.