FINEX WEEK

 

 

By SHABBIR H. KAZMI
Updated Feb 28, 2003

 

There was no change in the Interbank market the past week. Short term rates fell off further while the one, two and three month levels followed a similar trend witnessed at the end of January. The secondary market for T-Bills was active with lows witnessed yet again. PIB trades were also witnessed throughout the week and heavy trades were 

 

 

witnessed for  the five and ten year issues. Overnight market was active in between the narrow band of 0.25% and 0.50% and only inched up on the last day of the week to touch 0.75%. One and two week activity was conducted at 1.00% and 1.25%, while the one-month tenor fell off sharply on Saturday. Earlier banks had covered themselves at 1.50% and 1.75%, but on the weekend lenders squared off bids of 1.40% and 1.25%. The past week also saw heavy trading being conducted for the 06/02/03 six month T-Bill but it was interesting to note the slide in the bid for the specific paper. Activity in the early parts of the week was witnessed at levels of 2.70% and 2.85% but soon fell of 2.40% where nominal trades were witnessed. The sharp slide was witnessed on Saturday and offers ranging between 2.00% and 2.15% were squared off by the buyers. Rates remained volatile and bids and offers later being quoted at 2.00% and 1.80% for the same paper. The PIB market became active and heavy buying was witnessed from certain quarters. Five year issues were traded at 4.00% while the ten year paper also changed hands 5.20% with offers later being quoted at 5.00%.

YIELD PROFILE

FEDERAL INVESTMENT BONDS

.

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

02.35

03.20

07.00%

2 Year

03.60

03.65

07.75%

3 Year

03.70

03.85

08.50%

4 Year

04.00

04.00

09.50%

5 Year

04.00

04.30

09.50%

10 Year

05.20

05.25

10.75%

 

 

 


 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Feb 19 T-Bill 03 mth. Feb 19 Feb 20
Feb 19 T-Bill 06 mth. Feb 19 Feb 20

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs.10,000 Mln. 

Rs.52,700 Mln. 

Rs.10,100 Mln.

 

 

 


 

MATURITIES

INSTRUMENT

DATE

AMOUNT

T-Bill

06 Mar 

18,625 Mln.

T-Bill

20 Mar 

32,990 Mln.

 


 

REPO RATES

 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

Overnight

00.75

00.75

08.95

1 Week

00.75

01.00

08.00

1 Month

01.00

02.05

06.80

3 Month

01.63

02.45

06.20

6 Month

02.05

02.70

06.45

1 Year

02.53

03.00

06.85

 


 

TREASURY BILL RATES
MATURING THIS WEEK 1 WEEK AGO 1 YEAR AGO

1 Month

01.65

02.55

06.80

2 Month

01.75

02.40

06.50

3 Month

01.90

02.65

06.20

4 Month

01.90

02.70

06.40

5 Month

02.00

02.70

06.50