Secondary market bond yields see saw

Friday, 16 June 2023 00:20 - - {{hitsCtrl.values.hits}}

By Wealth Trust Securities Ltd

The secondary bond market yields were seen seesawing yesterday, initially increasing during morning hours of trading and decreasing once again during the latter part of the day to close the day marginally higher than its previous day’s closings.

The liquid maturities of 01.07.25, 15.05.26, two 2027’s (i.e., 01.05.27 & 15.09.27) and 01.07.32 hit intraday highs of 27.00%, 25.25%, 23.25%, 23.50% and 21.00% respectively against its previous day’s closing level of 25.50/90, 23.75/25, 22.50/80 each and 19.50/50.

The total secondary market Treasury bond/bill transacted volume for 14 June 2023 was Rs. 9.21 billion.

In money markets, the DOD (Domestic Operations Department) of Central Bank injected liquidity by way of an overnight reverse repo auction for a volume of Rs. 25.50 billion at weighted average rate of 13.40% while an amount of Rs. 77.62 billion was withdrawn from Central Banks SLFR (Standard Lending Facility Rate) of 14.00%. The weighted average rates on overnight call money and REPO stood at 13.77% and 13.82% respectively.

Forex Market

In the Forex market, the USD/LKR rate on spot contracts closed at Rs. 307.00/310 yesterday subsequent to trading at Rs. 305.00 to Rs. 320.00. The total USD/LKR traded volume for 14 June was $ 82.72 million.

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