Secondary bond market yields remain broadly steady

Friday, 8 June 2018 01:55 - - {{hitsCtrl.values.hits}}

By Wealth Trust Securities

Secondary bond market yields remained broadly steady yesterday with the maturities of 2019s (i.e. 01.05.19, 15.09.19, 01.07.19 and 01.11.19), two 2021s (i.e. 01.05.21 and 01.08.21), 15.03.23, two 2024s (i.e. 01.01.24 and 01.08.24) and 01.08.25 changing hands within the range of 9.50% to 9.65%, 9.97% to 10.03%, 10.41% to 10.42%, 10.47% to 10.50% and 10.58% to 10.63% respectively.

In the secondary bill market, February, March and April 2019 bills changed hands within the range of 9.20%-9.34%.

The total secondary market Treasury bond transacted volume for 6 June 2018 was Rs. 13.11 billion. In money markets, the overnight call money and repo rate averages increased yesterday to 8.21% and 8.25% respectively as the net deficit in the system stood at Rs. 14.54 billion. The OMO Department of the Central Bank of Sri Lanka infused an amount of Rs. 13.00 billion at a weighted average of 8.50%, by way of an overnight reverse repo auction.

Downward trend in rupee continues

The USD/LKR rate on spot contracts depreciated for a third consecutive day to close the day at Rs. 158.95/00 against its previous day’s closing levels of Rs. 158.80/85, on the back of importer demand. The total USD/LKR traded volume for 6 June 2018 was $ 76.65 million.

Some of the forward USD/LKR rates that prevailed in the market were one month - 159.70/90; three months - 161.30/50 and six months - 163.60/80.