Secondary market bond yields edge up as policy rates held steady

Tuesday, 12 November 2013 01:38 - - {{hitsCtrl.values.hits}}

By Wealth Trust Securities Secondary market bond yields increased yesterday as Central Bank held its policy rates unchanged at 6.50% and 8.50% at its monthly monetary policy meeting for the month of October. Activity mainly surrounded the liquid maturities of 1 April 2016, 1 January 2017 and the liquid two 2018s (i.e. 1 April 2018 and 15 August 2018) as it was seen hitting intraday highs of 10.50%, 10.75%, 11.06% and 11.16% respectively from its opening levels of 10.40/50, 10.70/75, 10.98/03 and 11.07/12. Secondary market bills saw May 2014 bills been quoted within the range of 9.00% to 9.10% and the 364 day bill within 9.78% to 9.82% once again. Meanwhile in money markets, Overnight call money and repo rates remained steady to average 7.76% and 7.00% respectively as money market liquidity remained at a surplus of Rs. 24.48 b yesterday. The Open Market Operations (OMO) department of Central Bank drained out an amount of Rs. 21.71 b on a seven day basis at a WAvg of 7.46% while a further amount of Rs. 2.77 b was deposited at its window rate of 6.50%. Rupee remains steady In Forex markets, the USD/LKR rate on spot contracts remained steady to close the day at levels of Rs.131.05/08 on the back of moderate volumes. The total USD/LKR traded volume for the previous day (8 November 2013) stood at US$ 40.75 million. Some of the forward dollar rates that prevailed in the market were one month – 131.87; three months -133.49; and six months – 135.64.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.