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Sri Lanka bond yields rise, forex market activity muted

ECONOMYNEXT – Sri Lanka’s bond yields were up further on Tuesday, stock market were closed and forex markets have seen only sporadic activity for some time, dealers said, while the rupee fell amid liquidity injections.

The rupee had fallen below 190 to the US dollar from around 182 to the US dollar before so-called helicopter drops of liquidity injections began in late February.

Sri Lanka’s stock markets are closed due to a Coronavirus holiday.

The government debt office is issuing 30 billion rupees of treasury bills split into six billion 3-month bills, 10 billion in 6-month bills and 14 billion 12-month bills on an auction tomorrow.

A bond auction of up to 220 million dollars of Sri Lanka development bonds in the tenures of 7 months, 1 year 4 months, 3 years and 4 years and 10 months also on Wednesday, the debt office said.

In the secondary government securities market, yields went up in fairly dull trading, dealers said.
Dealers also said that the 2024 maturities were more liquid.

A bond maturing on 15.12.2021 was not quoted.

A 2-year bond maturing on 01.10.2022 was quoted at 8.80/9.00 percent up from 8.75/90 percent.
A bond maturing on 01.09.2023 was quoted at 9.15/30 percent up from 8.05/15 percent.

A bond maturing on 15.09.2024 was quoted at 9.30/40 percent up from 9.25/35 percent on Monday.
A bond maturing on 15.10.2027 was quoted at 9.55/70 percent stable from 9.55/65 percent.

A bond maturing on 15.05.2030 was not quoted in early trade.

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A bond maturing on 15.09.2034 was not quoted. It closed at 10.00/40 percent in its last close. (Colombo/ Mar31/2020)