FINEX WEEK

 

 

By SHABBIR H. KAZMI
Updated June 07, 2003

 

Due to the surplus liquidity in the system rates remained at the rock bottom levels throughout the week and no major change in the market was noted. Due to the overnight rates staying at the lower side one and two week rates also remained under pressure and witnessed no major activity and quoted at 0.75% and 1.00%. Due to the flooded money market State Bank conducted Open Market Operation to stabilize the market, SBP mopped-up Rs.

 

 

15.00 billion from the market but this outflow was unable to bring stability in the system, and rates remained at the lower end of the spectrum. The most active tenor was one month where early trades were struck around 1.75%, later eased and activity was conducted around 1.30%. Three and six months remained comparatively at higher levels, with no ease in rates were seen in the respected tenors. Volatility was witnessed in bond market where ten year PIB issue of 24/10/02 was the most active and early trades in this specific issue took place around 4.90%, but gradually yield took a hike and activity was seen as high as 5.75%.

YIELD PROFILE

FEDERAL INVESTMENT BONDS

.

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

02.60

02.60

07.35%

2 Year

03.10

03.00

08.45%

3 Year

03.35

03.30

08.85%

4 Year

03.50

03.50

08.90%

5 Year

04.00

03.75

09.85%

10 Year

05.40

05.05

10.85%

 

 

 


 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

May 28 T-Bill 06 mth May 28 May 29

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs.22,000 Mln. 

Rs.40,500 Mln. 

Rs.23,700 Mln.

 


 

MATURITIES

INSTRUMENT

DATE

AMOUNT

T-Bill

12 Jun

32,350 Mln.

 


 

REPO RATES

 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

Overnight

01.75

00.30

08.90

1 Week

01.25

00.80

07.50

1 Month

01.60

01.20

06.80

3 Month

01.85

01.80

06.45

6 Month

02.05

02.00

06.60

1 Year

02.60

02.45

07.00

 

 

 


 

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

1 Month

02.00

01.60

07.25

2 Month

01.75

01.70

06.90

3 Month

01.85

01.70

06.45

4 Month

01.95

01.75

06.50

5 Month

02.00

01.75

06.55