Sri Lanka bond yields higher ahead of policy meeting

ECONOMYNEXT – Sri Lanka’s bond yields have risen about 20 basis points from a week earlier, ahead of a monetary policy announcement Friday dealers said, as Moody’s a rating agency downgraded Sri Lanka’s rating outlook.

Moody’s cut the outlook on Sri Lanka’s B1 speculative rating to negative from stable, despite new taxes backed by a deal with the International Monetary Fund and tighter monetary policy than last year.

Dealers said bond yields were up about 20 to 30 basis points.

Overnight call money was quoted at 8.18 percent, amid moral suasion and gilt backed repos were quoted at 7.95/8.00 percent.

Selected bond yields are given below:

2-year bonds (15.10.2018 ) quoted at 11.40/60 up from 11.30/40 last week

4-year bonds (15.05.2020) quoted at 11.75/85 up from 11.55/65 last week

5-year bonds (15.10.2021) quoted at 12.15/20 up from 11.85/90 last week

7-year bonds (01.01.2024) quoted at 12.70/80 up from 11.45/55 last week

10-year bond (01.06.2026) quoted at 12.85/95 up from 12.50/50. (Colombo/June21/2016)
 

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