Sri Lanka bill yields fall after auction

July 18, 2012 (LBO) - Yields of Sri Lankan Treasuries eased slightly after a weekly auction with longer term bond rates also falling about 10 basis points in secondary market trading, while the rupee also gained, dealers said.
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In the secondary market 12-month bills traded at 13.00 percent sharp, lower than the auction average of 13.


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16 percent, while a 175 day bill (a week short of 6-months) was trade around 12.80 percent against an auction average of 12.

91 percent.

Bonds also eased slightly with a 2-year bond maturing on April 01, 2014 being quoted around 13.65/70 percent down about 5 basis points from a day earlier, dealers said.

A 3-year bond maturing on July 15, 2015 was quoted around 12.73/78 percent from 13.80/85 levels a day earlier, dealers said.

Sri Lanka's budget deficit expanded in the first four months of the year but a billion US dollar sovereign bond was sold this week.

About half of the proceeds can be used for budgetary support and exchange rate strengthening if they are not used to build up foreign reserves.


The spot US dollar was quoted at 133.40/50 rupees in late trading stronger than yesterday's closing of 133.85/95 levels.

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