Secondary Bond market yields hold broadly steady

Tuesday, 3 December 2024 02:02 - - {{hitsCtrl.values.hits}}

Rupee stable

By WealthTrust Securities

The Secondary Bond market began the new trading week yesterday with yields holding broadly steady on the back of healthy activity levels and transaction volumes.

Accordingly, the 15.12.26 maturity consolidated within the range of 9.50%-9.45%. Similarly, the 01.05.27 maturity was seen trading at the rate of 10.22%. The 15.02.28 maturity traded within the range of 10.45%-10.40%. 2028 tenors remained the most popular tenors, with the 01.05.28 maturity also trading within the narrow band of 10.55%-10.50%. Additionally, trades were observed on the medium tenor 01.06.33 maturity within the range of 11.48%-11.45%.

The total secondary market Treasury bond/bill transacted volume for 29 November was Rs. 16.79 billion.

In money markets, the weighted average rates on overnight call money and repo stood at 8.16% and 8.27%, respectively. The DOD (Domestic Operations Department) of the Central Bank injected liquidity by way of an overnight repo auction for Rs. 41.6 billion at the weighted average rate of 8.08%.

The net liquidity surplus stood at Rs. 163.93 billion yesterday. An amount of Rs. 7.84 billion was withdrawn from the Central Bank’s SLFR (Standing Lending Facility Rate) of 8.50%, while an amount of Rs. 213.37 billion was deposited at the Central Bank’s SDFR (Standard Deposit Facility Rate) of 7.50%.

Forex market

In the Forex market, the USD/LKR rate on spot contracts closed the day virtually unchanged at Rs. 290.65/290.70 against its previous day’s closing level of Rs. 290.65/290.75.

The total USD/LKR traded volume for 29 November was $ 85.40 million.

(References: Central Bank of Sri Lanka, Bloomberg E-Bond trading platform, Money broking companies)

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