Over the past year, Treasuries yields have fallen, mostly because banks bought into the securities as private credit demand fell. The government has also borrowed abroad reducing the need for domestic borrowings.
A 5-year 10.6 percent bond maturing on 01.07.2019 was sold to yield 8.93 percent on May 27, up from the last auction at 8.65 percent on January 10.
In the secondary market the bond was quoted around 8.91/94 percent before the auction, dealers said.
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On Wednesday the bond was quoted around 8.95/98 percent.
A 14-year bond maturing on 01.01.2029 was sold to yield 10.88 percent, slightly up from 10.
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76 percent at an auction on February 26. Long bond are illiquid though indicative quotes for the security were around 10.85/95 percent.
A 30-year bond maturing on 01.06.2044 was sold to yield 11.75 percent. In March a 30 year bond maturing on 01.01.2014 was sold to yield 11.75 percent.
Sri Lanka's long bonds are not widely traded and liquid and they are bought by state management pensioned funds, insurance companies and also some foreign investors.