Secondary market bond yields steady with activity remaining high

Friday, 25 October 2013 03:23 - - {{hitsCtrl.values.hits}}

By Wealth Trust Securities Secondary market bond yields closed the day steady yesterday with activity continuing to

remain high. The market favourite maturities of 1 January 2017 and 1 April 2018 were seen changing hands within a tight range, from daily lows of 11.72% and 11.03% respectively to highs of 11.77% to 11.06%. In addition, buying interest on the 15 August 2018 maturity saw it change hands within the range of 11.10% to 11.13% while the two year maturity was traded within the range of 10.20% to 10.30% as well. In secondary bill markets, the 364 day bill continued to change hands at levels of 9.90%, January 2014 within 8.30% to 8.40%, May 2014 within 9.10% to 9.15% and August 2014 within 9.65% to 9.70%. Money market liquidity increased to Rs. 38.24 billion yesterday with Rs. 21.17 b being mopped up for a period of seven days at a weighted average of 7.47%. In addition, an amount of Rs. 17.07 b was seen been deposited at CBSL’s repo window rate of 6.50% as overnight call money and repo rates averaged 7.75% and 7.08% respectively. Rupee gains to a three-and-a-half month high In Forex markets, the rupee appreciated yesterday to a three-and-a-half month high of Rs. 130.55 and closed the day at Rs. 130.57/59 on the back of inflows into debt and equity markets coupled with export conversions. The total USD/LKR traded volume for the previous day (23 October 2013) stood at US$ 94.45 million. Some of the forward dollar rates that prevailed in the market were one month – 131.48; three months -133.03; and six months – 135.53.

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