Sri Lanka bond yields up as cabinet re-shuffle awaited; rupee flat
Feb 21, 2018 09:29 AM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - Sri Lanka's government bonds faced renewed selling pressure Wednesday amid continued political drift, as a cabinet re-shuffle was awaited and stocks opened higher, dealers and brokers said.
"There is some concern that Finance Minister Mangala Samaraweera will be changed," a dealer said. "At last somethings were beginning to happen under him."
Stocks rose 0.1 percent in the first half hour of trading with the Colombo All Share Index up 10.9 points in the first half hour of trading.
The rupee opened at 155.40/55 to the US dollar Wednesday morning, the same as yesterday's closing.
In bond markets a 3-year bond maturing on 01.03.2021 was quoted at 9.80/90 percent Wednesday from Tuesday's close of 9.70/80 percent.
Business done at 9.85 early Wednesday dealer said.
An 8-year bond maturing on 01.08.2026 was quoted at 10.30/40 percent wider from Tuesday's close of 9.32/40 percent.
A 12-year bond maturing on 15.05.2030 was quoted at 10.50/60 percent up from 10.45/60 close.
Money was quoted at 8.05/8.25 and gilt backed repos at 7.50 to 7.75 percent.
The central bank conducted several repo auctions Tuesday to mop up excess liquidity. (Colombo/Feb21/2018)