91, 182 day Tbills on offer after lapse of two weeks
Wednesday, 14 August 2013 00:13
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The 91 day and 182 day maturities will be on offer at today’s weekly Treasury bill auction after a lapse of two weeks for an amount of Rs 1 Bn each, according to Wealth Trust Securities.
It said at the previous two auctions, only the 364 day bill was on offer with its last week’s weighted average (WAvg) increasing by 5 basis points (bp) to 10.57%. The offered amount on the 364 day bill is Rs 10 Bn taking the total offered amount to Rs 12 Bn today. The 364 day bill was quoted at levels of 10.53/57 in secondary markets yesterday subsequent to changing hands at levels of 10.55%. However, activity in secondary bond markets continued to be sluggish with two way quotes mainly seen on the liquid two five year maturities at levels of 11.28/32 and 11.35/38 respectively.
Liquidity in money markets increased to Rs 24 Bn yesterday as overnight call money and repo rates remained steady to average 8.75% and 8.10% respectively. The Open market Operations (OMO) department of Central Bank was seen mopping up an amount of Rs 8 Bn on an overnight basis by way of a Repo auction at a WAvg of 7.60% while a further Rs 2.45 Bn was mopped up for 6 days at a WAvg of 7.94% as well. In addition, a further amount of Rs 13.55 Bn was seen been deposited at CBSL’s Repo window of 7.00%.
