Secondary market bond activity moderates

Tuesday, 16 July 2013 01:02 - - {{hitsCtrl.values.hits}}

By Wealth Trust Securities Activity in secondary bond markets dried up yesterday amidst thin volumes as yields remained mostly unchanged. A very limited amount of activity was witnessed on the more liquid two five year maturities (i.e. 1.4.2018 and 15.8.2018) within the range of 11.25% to 11.28% and 11.29% to 11.33% respectively, with active two way quotes on the three year maturity seen at levels of 10.88/92 as well. In addition, the 364 day bill closed the day at levels of 10.53%-10.57%, subsequent to changing hands at levels of 10.55%. The weighted averages on overnight call money and repo rates remained steady to average 8.70% and 8.07% respectively as surplus liquidity increased to Rs. 34.13 billion yesterday from its Friday figure of Rs. 25.22 billion following the Rs. 64 billion bond maturity yesterday. The Open Market Operations (OMO) department of Central Bank was seen mopping up an amount of Rs. 22.58 billion on an overnight basis at a weighted average of 7.79% by way of a repo auction while a further amount of Rs. 11.54 billion was seen been deposited at CBSL’s repo window of 7.00%. Rupee remains steady The rupee remained stable at levels of Rs. 131.00-Rs. 131.10 yesterday with spot next contracts seen changing hands at levels of Rs. 131.20 as volumes traded moderated. The total USD/LKR traded volume for the previous day (12.7.13) stood at US$ 26.68 million. Some forward dollar rates that prevailed in the market were: One month – 131.85, three months – 133.30 and six months – 135.40.

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