Secondary bond market yields increase on moderate volumes

Tuesday, 17 April 2018 00:00 - - {{hitsCtrl.values.hits}}

By Wealth Trust Securities

The secondary market bond yields were seen increasing yesterday, with moderate volumes being traded.

The 15.03.23 maturity hit intraday highs of 10.05% when compared against the previous day’s closing levels of 9.80/85. Furthermore, limited trades of the 01.03.21, 15.12.21, 15.06.27 and 01.09.28 maturities were witnessed at levels of 9.80%, 9.85% to 9.95%, 10.25% and 10.30% respectively, while the two way quotes along the rest of the yield curve too, increased.

The total secondary market Treasury bond/bill transacted volumes for 12 April 2018 was Rs. 5.58 billion.

In money markets, the overnight call money and repo rates remained mostly unchanged to average 7.89% and 7.91% respectively as the Open Market Operations (OMO) Department of the Central Bank Sri Lanka was seen injecting an amount of Rs.4.43 billion on an overnight basis by way of a Reverse Repo auction at a weighted average of 7.88%. The liquidity in the system stood at a net surplus of Rs. 16.92 billion.

Rupee dips

In the Forex market, the USD/LKR rates on spot contracts were seen depreciating yesterday to close the day at Rs. 155.95/10 against its previous day’s closing levels of Rs. 155.70/80 on the back of importer demand.

The total USD/LKR traded volume for 12 April 2018 was $ 40.50 million.

Some of the forward USD/LKR rates that prevailed in the market were one month - 156.55/70; three months - 158.15/30 and six months - 160.40/60.

The secondary market yields for the most frequently traded maturities.

Treasury Bills

91 Day Bills – 8.25 / 8.50

182 Day Bills –8.60 / 8.90

364 Day Bills –9.55 / 9.60

Treasury Bonds

15/09/19 - 9.55 / 9.65

01/05/20 - 9.60 / 9.70

01/03/21 - 9.75 / 9.80

01/10/22 - 9.75 / 9.85

15/03/23 - 9.97 / 10.02

01/08/24 - 10.00 / 10.08

01/08/25 - 10.00 / 10.20

01/08/26 - 10.10 / 10.20

15/06/27 - 10.20 / 10.25

01/09/28 - 10.25 / 10.30

15/05/30 - 10.30 / 10.45

15/01/33 - 10.50 / 10.60

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