FINEX WEEK

 

 

By SHABBIR H. KAZMI
Updated April 26, 2003

 

The shorter term remained at the lower side of the yield curve with no major movement in rates seen throughout the week. Activity was confined in the band that has been prevailing in the market since a couple of weeks. Overnight was traded around 1.75% and 2.00% till the end of the week. Due to this lower overnight level, one and two week also remained under pressure and trades in these tenors were in the range of 1.50% and 1.75%.

 

 

This week aggressive activity in longer tenors was seen and rates eased on the decision on revaluation on PlBs for Repo transactions. Three and six months was traded around 1.60% and 1.70% respectively. Due to this downward trend in tenors, T-bill yield in secondary market also dipped and activity in near one year to maturity paper was witnessed around 2.20%. Aggressive buying was seen in PIBs. Initially, trades in 10 year paper was witnessed around 4.85% but later slid and trades in the respected paper was seen as low as 4.58%.

YIELD PROFILE

FEDERAL INVESTMENT BONDS

.

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

02.40

02.60

07.00%

2 Year

02.90

03.00

08.00%

3 Year

03.10

03.30

08.40%

4 Year

03.10

03.30

08.40%

5 Year

03.40

03.60

09.40%

10 Year

04.60

04.90

10.65%

 

 

 


 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Apr 16 T-Bill 03 mth Apr 16 Apr 17
Apr 16 T-Bill 12 mth Apr 16 Apr 17

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs.24,000 Mln

Rs.60,305 Mln

Rs.24,930 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

01.95

01.40

08.90

1 Week

01.80

01.25

06.00

1 Month

01.65

01.60

05.30

3 Month

01.60

01.70

05.75

6 Month

01.65

02.05

06.25

1 Year

02.45

02.50

06.65

 

 

 


 

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

1 Month

01.90

02.00

05.75

2 Month

01.65

01.85

05.60

3 Month

01.55

01.60

05.80

4 Month

01.65

01.70

06.10

5 Month

01.65

01.80

06.20