ECONOMYNEXT - Sri Lanka's 5, 6 and 7 year bonds rose sharply at Thursday's auction data from the state debt office showed, with secondary market yields also moving up, dealers said.
The debt office sold 11.5 billion rupees of 4 and 9 month bonds maturing on 01.05.2020 at a weighted average yield of 8.39 percent. The bonds were last auctioned at 8.20 percent on July 02.
The bond which was quoted around 8.25/30 percent before the auction moved up to 8.55/60 percent levels, dealers said.
About 7.6 billion rupees of bonds maturing on 15.10.2021, a new maturity, were sold to yield 9.08 percent. The bond was quoted around 9.15/35 percent after the auction.
About 12.1 billion rupees of 7-year 2-month bonds maturing on 01.10.2022 were sold to yield 9.14 percent. The bonds were quoted around 9.20/40 percent after the auction.
Sri Lanka has expanded domestic bond sales to raise money to bridge the deficit but in April cut policy rates, blunting price signals.
The debt office sold 11.5 billion rupees of 4 and 9 month bonds maturing on 01.05.2020 at a weighted average yield of 8.39 percent. The bonds were last auctioned at 8.20 percent on July 02.
The bond which was quoted around 8.25/30 percent before the auction moved up to 8.55/60 percent levels, dealers said.
About 7.6 billion rupees of bonds maturing on 15.10.2021, a new maturity, were sold to yield 9.08 percent. The bond was quoted around 9.15/35 percent after the auction.
About 12.1 billion rupees of 7-year 2-month bonds maturing on 01.10.2022 were sold to yield 9.14 percent. The bonds were quoted around 9.20/40 percent after the auction.
Sri Lanka has expanded domestic bond sales to raise money to bridge the deficit but in April cut policy rates, blunting price signals.
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