Flat Rates
Treasury bill yields remained flat on Wed. amidst speculation that that the Central Bank is unlikely to tinker with its short-term interest rates on Thu.
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The Central Bank has been following a soft rate stance amid reduced government borrowing following the February 2002 ceasefire.
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The bank has cancelled several government bond auctions lately and has also bought back treasury bills to inject liquidity into the system.rn rn
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On Monday, the bank cancelled a Rs. 3 bn two-year treasury bonds scheduled for Dec. 16, as it was ldblquote streamlining the borrowing program for December 2003.
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rnAtrnthis weeks T-bill auction, the bank bought back Rs. 1.15 bn of the Rs. 5.35 bnrnpaper on offer.rn
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Detailsrnof the auction are as follows:rn
| rn
Maturityrn (Days)rn |
rn
Amountrn Offeredrn (Rs.Mn.)rn |
rn
Bidsrn Receivedrn (Rs.Mn.)rn |
rn
Amountrn Acceptedrn (Rs.Mn.)rn |
rn
Weightedrn Average Yieldrn Percentrn per annumrn Afterrn Taxrn |
|
| rn
rn |
rn
rn |
rn
rn |
rn
rn |
rn
Thisrn Weekrn |
rn
Lastrn Weekrn |
| rn
3-monthsrn rn |
rn
2,100rn |
rn
5,307 |
rn
1,615rn |
rn
7.34%rn |
rn
7.34%rn |
| rn
6-months |
rn
420rn |
rn
603rn |
rn
242rn |
rn
7.30%rn |
rn
7.30rn |
| rn
12-months |
rn
1,680rn |
rn
1,574rn |
rn
343rn |
rn
7.22%rn |
rn
7.22%rn |
| rn
Totalrn |
rn
4,200rn |
rn
7,484rn |
rn
2,200rn |
rn
7.32%rn |
rn
7.29%rn |
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-LBO Newsdesk: LBOEmail@rnrnrnrnrnrn