Treasury Bond auctions held on 27 March 2013

sriranga · 1 Treasury Bond auctions held on 27 March 2013 Wed Mar 27, 2013 4:19 pm

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Treasury Bond auctions held on 27 March 2013 Cbsl15

CSE.SAS · 2 T-bill/bond yields up, rupee down Thu Mar 28, 2013 1:13 am

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A Rs. 15 billion Treasury bond auction was oversubscribed yesterday (27) at a primary auction conducted by the Public Debt Department of the Central Bank with total bids amounting to Rs. 36.8 billion, driving yields up further after benchmark interest rates went up further this week.

Bids accepted amounted to Rs. 15 billion.

Rs. 3 billion in five year and three month bonds were sold for a yield of 11.45 percent, up from a yield of 10.97 percent in the previous auction in February while Rs. 6 billion in ten year and five month bonds went for 11.80 percent, up from 11.76 percent in the previous auction. Rs. 6 billion worth of 12 year and 10 month bonds were sold for 12.15 percent.

In the secondary market for Treasury bonds, the five year bond yield eased to 11.36/42 yesterday from 11.45/50 on Monday while the eight year bond yield increased to 11.75/95 from 11.70/90. The one year bond yield moved up to 11.05/40 percent from 11.00/20. Yields across the other tenures stayed unchanged.

Benchmark Treasury bill yields rose for the third time this year earlier this year on Monday after the Public Debt Department offered maturing bills amounting to Rs. 10 billion. Bids amounted to Rs. 20.9 billion but the Central Bank accepted bids amounting to only Rs. 8.8 billion.

The 91 day T-bill yield increased to 9.26 percent from 9.22 percent a week earlier while the 364-day Treasury bill yield increased to 11.35 percent from 11.26 percent.

The 182 day T-bill yields stayed flat at 10.25 after all bids for this tenure were rejected by the Public Debt Department of the Central Bank.

Meanwhile, the rupee continued to weaken against the US dollar on Wednesday (27) closing at Rs. 126.85/90 from an opening position of Rs. 126.70/74 against the greenback.
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