5 year bond prices up

Tuesday, 3 September 2013 00:00 - - {{hitsCtrl.values.hits}}

By Wealth Trust Securities The start of a fresh month saw bond prices increase which move inversely to yields, mainly on the liquid two five year maturities (i.e. 1 April 2018 and 15 August 2018) as its yields were seen hitting intraday lows of 11.75% and 11.80% respectively against its opening of 11.82% and 11.90%. Active two-way quotes were mainly seen on the five-year durations as yields along the rest of the yield curve remained steady. Two-year maturities were seen been quoted within the range of 11.25/30. Meanwhile in secondary bill markets, durations centering the 364-day bill continued to be quoted high at levels of 10.55% to 10.65%. Overnight call money and repo rates dipped marginally yesterday to average 8.68% and 8.12% respectively as surplus liquidity in money markets remained high at Rs. 31.47 billion. The Open Market Operations (OMO) department of Central Bank was seen mopping up an amount of Rs. 10 billion on an overnight basis by way of a Repo auction at a WAvg of 7.30% while a further Rs. 3.00 billion was mopped up for a period of seven days at a WAvg of 7.95% as well. An amount of Rs. 18.47 billion was seen been deposited at CBSL’s Repo window of 7.00%.

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