Secondary bond market starts off slow

Tuesday, 5 November 2024 00:03 - - {{hitsCtrl.values.hits}}

Rupee marginally depreciates

By Wealth Trust Securities

The secondary bond market started off the trading week on a dull note, with yields holding broadly steady. The market was at a complete standstill for much of the day, with only sparse trades observed on thin overall transaction volumes.

Accordingly limited trades were observed on selected maturities. The shorter tenor 15.01.25, 01.02.26 and 15.05.26 maturities changed hands at the rates of 9.60%, 10.15%-10.20% and 10.55% respectively. The 01.05.27 and 15.09.27 maturities were seen trading at the rates of 11.43-11.50% and 11.50% -11.52% respectively. In addition, maturities of 15.03.28 and 01.07.28 traded at levels of 11.765% and 11.85%-11.86% respectively.

The total secondary market Treasury bond/bill transacted volume for 1 November was Rs. 6.17 billion.

In money markets, the weighted average rates on overnight call money and Repo stood at 8.57% and 8.73% respectively. The DOD (Domestic Operations Department) of Central Bank injected liquidity by way of an overnight repo auction for Rs. 20.00 billion at the weighted average rate of 8.54%.

The net liquidity surplus stood at

Rs. 145.96 billion yesterday. An amount of

Rs. 0.05 billion was withdrawn from the Central Bank’s SLFR (Standing Lending Facility Rate) of 9.25%, while an amount of Rs. 166.01 billion was deposited at Central Bank’s SDFR (Standard Deposit Facility Rate) of 8.25%.

Forex Market

In the Forex market, the USD/LKR rate on spot contracts closed the day depreciated slightly at Rs. 293.00/293.20 against its previous day’s closing level of Rs. 292.95/293.05.

The total USD/LKR traded volume for 1 November was $ 105.78 million.

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

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