Secondary market bond yields continue to decline

Friday, 13 December 2013 00:01 - - {{hitsCtrl.values.hits}}

By Wealth Trust Securities The positive momentum in secondary market Treasury bond yields continued yesterday as well with the liquid two 2018 maturities (i.e. 1 April 2018 and 15 August 2018) reflecting declines of 20 basis points and 18 basis points respectively during the day to intraday lows of 10.07% and 10.17% in comparison to its previous day’s closing levels as volumes traded remained very high. In addition, two year maturities were seen changing hands within the range 8.90% to.9.10% as well. Buying pressure on secondary market bills continued saw the 364 day bill closing the day at levels of 8.80% - 8.95%. The surplus liquidity in money markets on an overnight basis stood at Rs. 36.62 billion yesterday, as the Open Market Operations (OMO) department of Central Bank mopped up an amount of Rs. 19.30 b from the system on an overnight basis by way of a Repo auction at a weighted average of 7% and a further amount of Rs. 17.32 b was deposited at CBSL’s repo window of 6.50%. Overnight call money and repo rates remained steady to average 7.73% and 7.05% respectively.

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