Sri Lanka bond yields sharply up at auction, secondary trading

ECONOMYNEXT – Sri Lanka’s 5, 6 and 7 year bonds rose sharply at Thursday’s auction data from the state debt office showed, with secondary market yields also moving up, dealers said. 
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The debt office sold 11.5 billion rupees of 4 and 9 month bonds maturing on 01.05.2020 at a weighted average yield of 8.39 percent. The bonds were last auctioned at 8.20 percent on July 02.
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The bond which was quoted around 8.25/30 percent before the auction moved up to 8.55/60 percent levels, dealers said.
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About 7.6 billion rupees of bonds maturing on 15.10.2021, a new maturity, were sold to yield 9.08 percent.  The bond was quoted around 9.15/35 percent after the auction.
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About 12.1 billion rupees of 7-year 2-month bonds maturing on 01.10.2022 were sold to yield 9.14 percent. The bonds were quoted around 9.20/40 percent after the auction.
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Sri Lanka has expanded domestic bond sales to raise money to bridge the deficit but in April cut policy rates, blunting price signals.
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(Colombo/July09/2015)
 

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