Activity in secondary bond markets remains high

Friday, 6 December 2013 00:00 - - {{hitsCtrl.values.hits}}

A continued sellers’ market saw yields decreasing for a seventh consecutive day during morning hours of trading yesterday as the overall yield curve sustained its downward trend.

Activity continued to remain high on the more liquid 2018 maturities (i.e. 1 April 2018 and 15 August 2018) as its yields were seen hitting intraday low of 10.25% and 10.28% respectively, reflecting a decrease of 16 basis points and 19 basis points in comparison to its previous day’s closing levels, Wealth Trust Securities said in a statement. However, selling interest coupled with profit taking towards the latter part of the day saw its yields increase once again in hitting daily highs of 10.43% and 10.50% and closed the day mostly unchanged at levels of 10.38/42 and 10.44/48 once again. Furthermore, buying pressure on secondary market Treasury bills continued as well with the 364-day bill being quoted at levels of 9.00/20 while the 182-day bill was at 8.30/50. Meanwhile, surplus liquidity in money market stood at Rs. 21.54 billion yesterday as the Open Market Operations (OMO) department of Central Bank was seen mopping up Rs. 5.65 billion on a seven-day basis at a weighted average of 7.43% and a further Rs. 15.89 b being deposited at its window rate of 6.50%. The overnight call money and repo rates held steady to average 7.76% and 7.04% respectively. The rupee was seen trading at levels of Rs. 130.85 and closed the day at Rs. 130.85/87 as demand/supply was seen at equilibrium. The total USD/LKR traded volume for the previous day (4 December 2013) stood at US$ 96.12 million.

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.