Home / Financial Services/ Secondary bond market remains at a standstill  

Secondary bond market remains at a standstill  


Comments / {{hitsCtrl.values.hits}} Views / Tuesday, 10 July 2018 00:43


By Wealth Trust Securities

Activity in the secondary bond market remained at a standstill yesterday, with two way quotes increasing and widening against its Fridays closings, mainly on the long end of the curve as most market participants were seen on the sidelines. Only the 15.03.23 maturity was seen changing hands yesterday within the range of 10.42% to 10.45%.  

The total volume of Treasury bonds/bills transacted in the secondary market on 6 July was Rs. 3.74 billion.

The Open Market Operations (OMO) department of Central Bank was seen injecting an amount of Rs 0.93 billion in total yesterday, by way of outright purchases of Treasury bills, against a total buy back amount of Rs 20 billion for durations ranging from 38 days to 129 days at weighted averages of 8.25% to 8.35%. 

A further amount of Rs 17 billion was infused by way of an overnight reverse repo auction at 8.44%, with a further Rs 10.80 billion been drawn down from CBSL’s Standing Lending Facility. The net liquidity shortfall decreased to Rs 18 billion yesterday. 

The overnight call money and repo rates averaged at 8.48% and 8.36% respectively.

Rupee dips marginally    

The USD/LKR rate on spot contracts were seen depreciating marginally yesterday to close the day at Rs. 159.30/35 against its previous day’s closing of Rs. 159.20/35, on the back of continued importer demand outpacing export conversions.

The total USD/LKR traded volume for 6 July was $41.85 million. 

Some of the forward USD/LKR rates that prevailed in the market were: 1 Month - 160.15/30; 

3 Months - 161.80/10 and 6 Months - 164.30/60.


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Bright star Imran Khan could well go the way of his predecessors

Saturday, 21 July 2018

Imran Khan, the Pakistani cricket star, anti-corruption crusader and politician, appears to be within reach of his cherished goal of winning the 25 July Pakistan National Assembly (NA) elections and becoming Prime Minister.


Top Cola brand crashing globally; lesson for Sri Lanka

Friday, 20 July 2018

We have heard the age old adage, if a brand is not in line to the trends of a customer, they will cease to exist over time.


Religion and politics: a tale of two hypocrisies

Friday, 20 July 2018

It was the best of times, it was the worst of times; it was the age of wisdom, it was the age of foolishness; it was the epoch of belief,


Sri Lanka’s Trade Information Portal – Bringing local traders one step closer to the global market

Friday, 20 July 2018

Sri Lanka’s traditional lacework famously known as Beeralu is slowly moving into the spotlight of the global fashion industry


Columnists More