Sri Lanka rupee steady, bond yields fall

COLOMBO (EconomyNext) – Sri Lanka’s bond yields fell amid stronger buying interest and expectations of policy easing, and the rupee was steady with intervention, dealers said.

The spot US dollar is traded at 133.70 with a state name that usually acts for the monetary authority selling dollars dealers said.

Bond were also off mid-week highs despite some sales of bond seen by foreign banks, dealers said.

The yield curve was seen flattening in the 6 to 8 year range with selling around those levels, this week.

Buying interest had come back to bond markets over two days after yields spiked 30 to 40 basis point amid foreign selling, showing how markets respond to price signals quickly analysts say.

Rates also fell amid expectations of a rate cut next Monday and there was also speculation of a reserve ratio cut.

Yields of selected bond maturities quoted on early afternoon trade Friday are given below.

3-year bonds maturing on 01.06.2018 – 7.60/64 percent up from Thursday’s 7.65/68

4-yuear bonds maturing on 15.09.19 -7.97/8.03 percent up from Thursday’s 8.05/10

5-year bonds maturing on 01.05.20 – 8.20/25 percent up from Thursday’s 8.25/35

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6-year bonds maturing on 01.08.2021 -.8.80/85 percent up from Thursday’s 8.85/90

7-year bonds maturing on 01.07.22 -8.85/95 percent up from Thursday’s 8.90/95

8-year bonds maturing on 01.09.2023 -9.00/05 percent up from Thursday’s 8.00/11

9-year bonds maturing on 01.01.2024 – 9.00/10 percent unchanged from Thursday’s 9.05/15

10-year bonds maturing on 15.03.25 – 9.05/10 percent up from Thursday’s 9.10/15

15-year bonds maturing on 15.05.2030 – 9.25/35 percent up from Thursday’s 9.30/40

20-year bonds maturing on 15.03.35 – 9.40/60 percent flat from Thursday’s 9.50/70

30-year bond maturing on 01.03.2045 – 10.35/65percent down from Thursday’s 10.40/75

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