|
conducted its PIB and T-bills auction and
mopped up total amount of around Rs.34 billion from the system.
The past week in term repo side, major activity was
restricted to short term and deals in one and two weeks tenors were
struck at 5.20% and 5.00% at the beginning of the week but rose later
and rates in respected tenors hiked and deals were executed as high as
6.50% and 6.25%. One month rates also saw a sharp rise after deals were
witnessed at 5.25% initially, and touched 6.00%. No major change in long
term market was seen, rates in three month tenure was quoted in the band
of 5.50% and 5.75% and nominal amounts were dealt at 5.65%. Buying
interest in one year paper was seen around 6.65% prior to auction, but
after the T-bill auction in which contrary to market expectation SBP
accepted bids in one year and maintained the cut-off yield. Trades in
one year T-bill was seen at 6.70%. No aggressive trades in one year
paper were seen as banks prefer to hold on this paper rather looking for
capital gains. A total bids of Rs.68.25 billion was witnessed against
the target of Rs.22 billion, with bids for three months and one year
were accepted at the previous cut-off of 5.8124% and 6.4373% accepting
Rs.3.60 billion and Rs.22.55 billion in three and twelve months
respectively. This week SBP also conducted PIB 10 year auction and
accepted total amount of Rs.8 billion at the premium price of Rs.108.86.
| YIELD PROFILE |
FEDERAL INVESTMENT BONDS |
| . |
THIS
WEEK |
1
WEEK AGO |
1
YEAR AGO |
|
1 Year |
06.75 |
06.70 |
11.00% |
|
2 Year |
07.25 |
07.25 |
11.50% |
|
3 Year |
07.60 |
07.60 |
12.00% |
|
4 Year |
08.10 |
08.00 |
12.00% |
|
5 Year |
08.60 |
08.50 |
12.50% |
|
10 Year |
09.60 |
09.55 |
13.00% |
| AUCTIONS |
| BID
DATE |
INSTRUMENT |
RESULT |
SETTLEMENT |
| Aug
21 |
T-BILL |
Aug
21
|
Aug
22 |
| TARGET AMOUNT |
BID
AMOUNT |
ACCEPTED AMOUNT |
| Rs.22,000
Mln. |
Rs.68,250 Mln |
Rs.26,150
Mln. |
| MATURITIES |
INSTRUMENT |
DATE |
AMOUNT |
|
T-Bill |
08 Aug |
16,700 Mln |
|
T-Bill |
22 Aug |
19,550 Mln |
REPO RATES |
|
THIS WEEK |
1 WEEK AGO |
1 YEAR AGO |
|
Overnight |
08.00 |
02.75 |
12.00 |
|
1 Week |
06.50 |
04.00 |
10.25 |
|
1 Month |
05.85 |
05.10 |
09.00 |
|
3 Month |
05.70 |
05.55 |
09.35 |
|
6 Month |
06.00 |
05.95 |
09.60 |
|
1 Year |
06.55 |
06.50 |
10.00 |
| TREASURY
BILL RATES |
| MATURING |
THIS WEEK |
1 WEEK AGO |
1 YEAR AGO |
|
1 Month |
06.30 |
05.60 |
09.75 |
|
2 Month |
06.10 |
05.70 |
09.50 |
|
3 Month |
05.85 |
05.70 |
09.90 |
|
4 Month |
06.00 |
05.90 |
10.00 |
|
5 Month |
06.05 |
06.00 |
10.20 |
|
|
