Thursday, 12 June 2014 00:44
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Activity in secondary bond markets continued to remain high, as yields were seen dipping in morning hours of trading, mainly on the liquid two 2019 maturities (i.e. 01.07.2019 and 01.11.2019) to daily lows of 8.67% and 8.68% respectively followed by the maturity of 15.05.2017 to 7.60%.
Furthermore activity was witnessed on the maturities of 01.11.2015, 01.03.2017, the two 2018s (i.e.01.04.2018 & 15.08.2018) and the 01.07.2022 maturity within the ranges of 7.10% to 7.13%, 7.56% to 7.60%, 8.21% to 8.23%, 8.28% to 8.30% and 9.78% to 9.80% respectively. However, profit taking at these levels curtailed any further downward movement as yields were seen closing the day mostly unchanged in comparison to its previous day’s closing levels. In secondary bill markets, the 364-day bill was seen quoted at levels of 6.92/97.
Meanwhile in money markets yesterday, overnight call money and repo rates remained steady to average 6.95% and 6.53% respectively as the Central Bank continued to refrain from conducting any cash valued auctions under its Open Market Operations (OMO). The total surplus of Rs. 9.45 billion was deposited at CBSL’s Standing Deposit Facility Rate (SDFR) of 6.50%. However the OMO department was seen mopping up an amount of Rs. 31.36 billion in total through three term repo auctions at yields of 6.76% for 35 days, 6.80% for 56 days and 6.84% for 77-days, valued today in line with term maturities.
Rupee remains stable for a fourth consecutive day
In Forex markets, the USD/LKR rate remained mostly unchanged to close the day at levels of Rs. 130.25/27. The total USD/LKR traded volume for the previous day (10) stood at $ 49.59 million.
Some of the forward dollar rates that prevailed in the market were 1 Month: Rs. 130.71, 3 Months: Rs. 131.54 and 6 Months: Rs. 132.74.
