Sri Lanka Treasuries yields drop

Oct 23, 2013 (LBO) – Sri Lanka’s Treasuries yield dropped sharply at Wednesday’s auction after a 50 basis point rate cut a week earlier, data from the state debt office showed. The state offered 10 billion rupees in bills for roll-over and accepted only 7.8 billion rupees of bids.

The 12-month yield dropped 47 basis points to 10.02 percent and the 6-month yield dropped 49 basis points to 9.11 percent.

The debt office, which is a unit of the Central Bank, rejected bids for 3-month bills. Last week 3-month bills yielded an average of 8.56 percent at the auction.