FINEX WEEK

 

 

By SHABBIR H. KAZMI
Updated Mar 15, 2003

 

No major change in the market scenario was witnessed past week and rates remained on the lower levels across the board. Due to the prevailing excess liquidity in the system overnight initially quoted in the band of 0.50% and 1.00%, later rates hiked and touched the high of 3.00%, but near the end of the week eased and quoted in the range of 1.50% and 2.00%. At the start shorter tenors like 

 

 

week and  two week remained under pressure and initial trades in the respected tenors were struck at 1.25%, but as the week progressed rates took a hike and bids and offers were quoted in the band of 1.25% and 1.75%. The past week saw heavy activity in one month with a hike of around 35 to 40 basis points and traded at a level of 1.60%. Initially this tenor was traded at 1.25%. No major activity was seen in longer tenors as most of the borrowers restricted them self to shorter tenures due to which no major deals were witnessed in three and six months tenors. Heavy demand for T-bills continued throughout the week. Six month paper was traded in the band of 1.90% and 2.05% and activity in around one year to maturity paper was noted at 2.15% to 2.20%. After the announcement of PIB auction with a target of only Rs. 3.00 billion yields in the secondary market continued the falling trend and deals were executed as low as 4.45%. However aggressive buying in these papers continued.

YIELD PROFILE

FEDERAL INVESTMENT BONDS

.

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

02.35

02.25

07.00%

2 Year

02.85

02.35

07.75%

3 Year

03.15

02.40

08.50%

4 Year

03.15

02.40

08.75%

5 Year

03.75

03.60

09.50%

10 Year

04.50

04.50

10.75%

 

 

 


 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Mar 05 T-Bill 03 mth. Mar 05 Mar 06

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs.30,000 Mln

Rs.103,930 Mln. 

Rs.30,650 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

01.75

00.75

01.00

1 Week

01.25

01.13

03.00

1 Month

01.45

01.50

04.75

3 Month

01.65

01.75

05.45

6 Month

02.00

01.85

06.05

1 Year

02.25

02.33

06.65

 


 

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

1 Month

01.90

01.90

05.10

2 Month

01.80

01.80

05.20

3 Month

01.85

01.75

05.65

4 Month

01.90

01.70

05.75

5 Month

01.90

01.70

06.00