FINEX WEEK

 

 

By SHABBIR H. KAZMI
Updated April 05, 2003

 

Another volatile week was witnessed in the inter-bank money market and at the start of the week surplus liquidity in the system kept the rates at the lower end of the yield curve. The overnight rates were quoted in the range of 0.75% and 1.50%, while rates for one and two week also maintained a firm stance around the same levels.

 

 

The market saw a hike in one month with trades witnessed around 1.40% prior to T-bill auction but fell off sharply as the bid pattern and the result were available. It was on Thursday when market took a U-turn and rates across the board hiked which is mainly because of the traditional quarterly out flows. Due to which activity in one and two weeks were witnessed as high as 4.50% and 4.00%. One month bids and offers touched the levels of 2.00% and 2.50%, however, trades in the respected tenor was witnessed around 2.25%.Aggressive trading in long term was seen during last week where activity in three and six months took place around 1.60% and 2.25%. The auction managed to attract a total amount of Rs. 35.00 billion which did not come to much of a surprise in an excessively liquid inter-bank market. The cut-off yield on six-month bills went down to 1.7193 percent from 2.1691 percent which is 0.45 basis points lower than the last auction

YIELD PROFILE

FEDERAL INVESTMENT BONDS

.

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

02.60

02.50

07.10%

2 Year

02.90

03.00

07.75%

3 Year

03.10

03.25

08.65%

4 Year

03.10

03.25

08.65%

5 Year

03.60

03.75

09.65%

10 Year

04.60

04.30

10.75

 

 

 


 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Apr 02 T-Bill 06 mth Apr 02 Apr 03

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs.5,000 Mln

Rs.35,325 Mln.

Rs.4,150 Mln.

 


 

MATURITIES

INSTRUMENT

DATE

AMOUNT

T-Bill

03 Apr

1,050 Mln

T-Bill

17 Apr

23,605 Mln.

 

 

 


 

REPO RATES

 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

Overnight 

01.00

08.90

 

1 Week

04.00

01.00

07.25

1 Month

02.25

01.10

06.75

3 Month

02.00

01.45

06.10

6 Month

02.25

01.60

06.45

1 Year

02.55

02.25

06.8

 


 

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

1 Month

02.75

01.40

07.75

2 Month

02.20

01.35

07.25

3 Month

02.10

01.60

06.20

4 Month

02.00

01.70

06.10

5 Month

02.10

01.75

06.25