Home / Financial Services/ Upward trend in weekly averages continue

Upward trend in weekly averages continue


Comments / {{hitsCtrl.values.hits}} Views / Wednesday, 4 October 2017 00:08


 

  • Total accepted amount dips to 14-week low
  • Secondary market bond yields continue to increase 

By Wealth Trust Securities

The upward trend in the weekly weighted averages continued at yesterday’s weekly Treasury bill auction for a second consecutive week as the degree of increase was seen increasing as well. 

The 364 day bill recorded the sharpest increase of 22 basis points to 9.32% followed by the 182 day bill by 7 basis points to 9.08%. 

Interestingly, the total accepted amount dipped to a fourteen week low of Rs.13.45 billion against its total offered amount of Rs.20.5 billion as the bid to offer ratio was seen dipping to a seven-week low of 1.59:1 as well.

The secondary bond market yields were seen increasing further yesterday with the maturities of 01.05.20, 01.08.21 and 01.08.25 hitting highs of 10.00%, 10.15% and 10.55% respectively against its previous day’s closing levels of 9.75/95, 10.00/05 and 10.35/45 on the back of continued selling interest. 

The total secondary market Treasury bond/bill transacted volumes for 2 October was Rs.5.18 billion.

In money markets, The OMO Department of the Central Bank of Sri Lanka was seen draining out an amount of Rs.8.02 billion on an overnight basis by way of a repo auction at a weighted average of 7.26% as the net surplus liquidity in the system stood at Rs.19.76 billion. The overnight call money and repo rates averaged 8.11% and 7.96% respectively.

Rupee losses further 

In the Forex market, the USD/LKR spot rate was seen depreciating further yesterday, to close the day at Rs.153.22/28 against its previous day’s closing level of Rs.153.10/20 on the back of continued importer demand. 

The total USD/LKR traded volume for the 02nd of October 2017 was $ 29.50 million. 

Given are some forward USD/LKR rates that prevailed in the market: one month – 154.00/10; three months – 155.75/85; six months – 157.65/75.

 


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 Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.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

Great ‘Gamperaliya’: A great novel made into a great film by a great director

Saturday, 23 June 2018

‘Gamperaliya’ (Changes in the Village/Changement au Village) was the third feature film made by ace director Lester James Peries. It was released on 20 December 1963.The film was based on the famous novel of the same name written by the doyen of


Confusion in Maldivian opposition is to Yameen’s advantage

Saturday, 23 June 2018

The ongoing confusion in the ranks of the Maldivian opposition, barely three months before the presidential election, works to the advantage of the incumbent President and candidate of the Progressive Party of the Maldives (PPM), Abdulla Yameen.


Implications of inward FDI on China: Lessons to be learnt

Saturday, 23 June 2018

China overtook the United States to become the largest trading nation in the world in 2014. China is the second largest economy in the world behind the United States and the largest exporter in the world. It is referred to as the factory of the world


22 June 1941: Operation Barbarossa

Friday, 22 June 2018

When Adolf Hitler founded his Third Reich in January of 1933 there was a decisive ‘quickening’ of history towards the cataclysmic


Columnists More