Demand for mid-term maturities continue

Tuesday, 16 May 2017 00:00 - - {{hitsCtrl.values.hits}}

By Wealth Trust Securities

The demand for mid-term maturities continued in the secondary bond market yesterday mainly on the 15 December 2021 maturity as its yield was seen dipping to an intraday low of 11.35% against its previous day’s closing of 11.40/45. In addition, 1 October 2022, the two 2023s (i.e. 1 September 2023 and 15 May 2023), 1 August 2024 and 15 March 2025 were traded within the range of 11.50% to 11.55% as well. Given below are the closing, secondary market yields for the most frequently traded maturities,

The total secondary market Treasury bond Transacted volume for 12 May 2017 was Rs. 10.65 billion.

Meanwhile in money markets, the overnight call money and repo rates averaged at 8.75% and 8.83% respectively as the net liquidity shortage dipped to Rs. 2.09 billion yesterday. The OMO (Open Market Operations) Department of the Central Bank injected an amount of Rs.4.00 billion on an overnight basis by way of a Reverse Repo auction at a weighted average of 8.75%.

Rupee remains mostly unchanged

In Forex markets, the USD/LKR rate on spot next contracts remained mostly unchanged yesterday to close the day at Rs. 152.55/70 with markets at equilibrium on the back of moderate volumes.

The total USD/LKR traded volume for 12 May 2017 was $68.41 million.

Some of the forward USD/LKR rates that prevailed in the market were 1 month - 153.70/80; three months - 155.50/65 and six months - 158.30/60.

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