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Sri Lanka’s Treasuries yields fall across maturities

rupee notes

ECONOMYNEXT- Sri Lanka’s Treasury bill yields fell across maturities at Wednesday’s auction, with the 12-month yield falling 12 basis points to 8.46 percent, data from the state debt office showed.

Excess liquidity spiked in money markets, some of which had been withdrawn through term repo auctions.

Large volumes of excess liquidity which is not withdrawn permanently will either lead to a fall in the rupee or a loss of forex reserves.

The Public Debt Department sold three-month bills at an average weighted yield of 7.41 percent on Wednesday, falling from 7.42 percent a week earlier.

Six-month bills were sold at 7.99 percent, down from 8.06 percent a week earlier, while 12-month bills fell to 8.46 percent from 8.58 percent.

At the bill auction, the Public Debt Office sold 29 billion rupees in securities, the full amount on offer, after receiving 95.53 billion rupees in bids.

Data showed the 7.8 billion rupees in three-month bills being sold, down 9.00 billion rupees on offer.

The debt office sold 5.5 billion rupees in six-month bills after offering 5 billion rupees and sold 15.6 billion rupees in twelve-month bills for the 15 billion rupees on offer.

The auction will be settled on March 06, 2020. (Colombo/Mar04/2020)

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