Yields increase marginally in thin trade ahead of monetary policy announcement

Tuesday, 22 April 2014 00:01 - - {{hitsCtrl.values.hits}}

By Wealth Trust Securities Secondary market bond yield increased marginally yesterday on the back of thin trades ahead of today’s monitory policy announcement for the month of April.

Activity centered the liquid two 2018 maturities (i.e. 1 April 2018 and 15 August 2018), the 1 July 2019 and 1 May 2021 maturity to hit intraday highs of 8.75%, 8.84%, 9.08% and 9.90% respectively against its days opening lows of 8.68/70, 8.80/84, 8.98/03 and 9.77/85. In addition, the 364 day bill was quoted at 7.00/04 while the one and a half year maturity of 01.11.2015 was quoted at 7.36/40. Overnight call money and repo rates remained steady to average 6.95% and 6.52% respectively as surplus liquidity remained high at Rs. 28.73 b yesterday. The Open Market Operations (OMO) department of Central Bank was seen mopping up an amount of Rs. 18.90 b on a four-day basis at a weighted average (WAvg) of 6.60% by way of a repo auction while a further amount of Rs 9.83 b was seen being deposited at CBSL’s Standing Deposit Facility Rate (SDFR) of 6.50%. Rupee remains stable In Forex markets, the USD/LKR rate remained steady to close the day at Rs. 130.60/130.65 yesterday. The total USD/LKR traded volume for the previous day (17 April 2014) stood at $ 48.85 million. Some of the forward dollar rates that prevailed in the market were: one month – 131.17; three months – 132.21; and six months – 133.71.

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