Sri Lanka Treasuries yields drop

Directory launched in the presence of Jagath Perera, CA Sri Lanka President, Manil Jayesinghe, CA Sri Lanka Vice President, Harsha Basnayake, Ernst & Young Asia Pacific Transaction Advisory Managing Partner, Aruni Rajakarier, Chairperson of the CA Sri Lanka Women Empowerment Committee, Anoji De Silva, Alternate Chair of the Women Empowerment Committee and Dulani Fernando, CA Sri Lanka CEO

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.