Sri Lanka Treasuries yields up sharply

ECONOMYNEXT – Sri Lanka Treasuries yields rose across maturities at Wednesday’s auction with the 3-month yield rising 18 basis points to 6.28 percent, data from the state debt office showed. The 6-month yield rose 19 basis points to 6.54 percent and the 12-month yield rose 09 basis points to 7.01 percent. The debt office offered 20 billion rupees of bills and accepted 15.8 billion rupees of bids. There is an estimated 28 billion rupees of maturing bills this week, but it is not clear whether there are any central bank held bills. Earlier in the day, the central bank absorbed 11 billion rupees of excess cash overnight at 6.09 percent. The central bank had progressively brought down excess liquidity in display of monetary tightening and at least over recent weeks seem to have halted large scale monetizing of debt, analysts say.

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