Inching Up

Sri Lankan Prime Minister Ranil Wickremasinghe (2nd R) arrives to visit the site of a bomb attack at St. Anthony's Shrine in Kochchikade in Colombo on April 21, 2019. - A string of blasts ripped through high-end hotels and churches holding Easter services in Sri Lanka on April 21, killing at least 156 people, including 35 foreigners. (Photo by ISHARA S. KODIKARA / AFP) (Photo credit should read ISHARA S. KODIKARA/AFP/Getty Images)

Three month treasury rates edged up at Wednesdays auction, stoked on by market appetite for debt paper with shorter tenures.
The Central Bank said that three-month yields inched up one basis point to 7.83 percent, while six and one-year paper remained flat at 7.78 percent and 7.75 percent respectively.rn

rnA total of Rs. 6,906 mn worth of bills matured this week, but the bank retired Rs. 1 bn and re-issued Rs. 5,406 mn.rn

rnThe auction was oversubscribed with Rs. 8,718 mn bids. The bank accepted only Rs. 3,406 mn from the market, while the Central Bank bought the balance Rs. 2 bn.rn

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-LBO Newsdesk: LBOEmail@vanguardlanka.comrn