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Sunday Feb 23, 2025
Tuesday, 10 December 2024 01:20 - - {{hitsCtrl.values.hits}}
By Wealth Trust Securities
The fresh trading week commenced on a dull note as yields in the secondary bond market increased marginally yesterday. Market participants were seen adopting a wait and see approach ahead of the upcoming Treasury bond auction that is due later in the week.
Accordingly, the 15.09.27 and 15.12.27 maturities were seen changing hands at the elevated levels of 10.15%-10.16%. The 15.02.28, 01.05.28 and 15.12.28 maturities were seen trading at the rate of 10.48%-10.50%, 10.60% and 10.70%-10.72%. The 2029 tenors also saw rates increase, with the 15.06.29 and 15.09.29 trading within the range of 10.90%-10.95% collectively. The 15.05.30 maturity was also observed trading higher, within the range of 11.15%-11.20%.
The Central Bank of Sri Lanka is scheduled to conduct a Rs. 132.50 billion round of Treasury bond auctions on 12 December (Thursday).
The auction will be comprised of:
In Secondary market T-bills short term March/April (close to three months) maturities were seen trading within the range of 8.78%-8.68%. August 2025 maturities were seen trading within the range of 9.04%-8.92% and November 2025 maturities at the rate of 9.00%.
The total secondary market Treasury bond/bill transacted volume for 6 December was Rs. 8.59 billion.
In money markets, the weighted average rates on overnight call money and Repo stood at 8.04% and 8.15% respectively. The DOD (Domestic Operations Department) of Central Bank injected liquidity by way of an overnight repo auction for Rs. 10.00 billion at the weighted average rate of 8.07%.
The net liquidity surplus stood at Rs. 220.43 billion yesterday. No funds were withdrawn from the Central Bank’s SLFR (Standing Lending Facility Rate) of 8.50%, while an amount of Rs. 230.43 billion was deposited at Central Bank’s SDFR (Standard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 broadly steady at Rs. 290.30/290.45 against its previous day’s closing level of Rs. 290.40/290.48.
The total USD/LKR traded volume for 9 December was $ 121.83 million.
(References: Central Bank of Sri Lanka, Bloomberg E-Bond trading platform, Money broking companies)
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