FINEX WEEK

 

 

By SHABBIR H. KAZMI
Updated July 19, 2003

 

Rates in interbank money market remained at the lower levels and major activity was confined in the short term. Due to the prevailing heavy liquidity in the system overnight rates saw no change and trades in ovemight was executed in the band of 0.15% to 0.50%. Past week State Bank conducted two Open market Operation to mop the excess liquidity from the system.
In the first OMO central bank accepted Rs. 13.50 billion in one week at 0.59% and in second OMO,

 

 

State Bank accepted Rs 11.00 billion in one week at 0.50%, these outflows turn to be insufficient and have no impact on the rates and market remained at the lower levels. In one and two weeks no major activity was seen, but lenders were willing to place their fund as low as 0.50%. Again major activity was seen in outright papers and heavy trading was witnessed in T-bills as well as in PlBs. Due to the heavy liquidity in the system and as market is expecting low T-bill target, heavy buying pressure was noted in T-bills due to which trades in latest one year paper was traded as low as 1.50%. Aggressive trading were also witnessed in PIB ten years and 30/06/03 PIB ten years issue was the most active one where initial trades were executed around 4.72%. Later due to the buying pressure yields slid and activity was took place around 4.55%. As there is no major change in the liquidity status of the market rates are expected to remain at the ongoing levels and no change in rates are excepted in days to come.

YIELD PROFILE

FEDERAL INVESTMENT BONDS

.

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

01.65

01.75

06.85%

2 Year

02.00

02.25

07.50%

3 Year

02.45

02.75

07.85%

4 Year

03.40

03.00

08.00%

5 Year

03.40

03.70

08.85%

10 Year

04.55

04.75

09.85%

 

 

 


 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Jul 09 T-Bill 03 mth Jul 09 Jul 10
Jul 09 T-Bill 12 mth Jul 09 Jul 10

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs.70,000 Mln.

Rs.153,325 Mln.

Rs.77,200 Mln

 


 

MATURITIES

INSTRUMENT

DATE

AMOUNT

T-Bill

10 July

68,005 Mln.

 

 

 


 

REPO RATES

 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

Overnight

00.90

00.35

08.90

1 Week

00.75

00.55

08.50

1 Month

00.95

01.00

07.15

3 Month

01.10

01.30

06.15

6 Month

01.25

01.30

06.25

1 Year

01.50

01.55

06.60

 


 

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

1 Month

01.10

01.25

07.50

2 Month

01.10

01.25

07.10

3 Month

01.10

01.30

06.25

4 Month

01.15

01.35

06.15

5 Month

01.20

01.35

06.25