FINEX WEEK

 

 

By SHABBIR H. KAZMI
Updated Aug 02, 2003

 

Past week State Bank again intervenes in the interbank money market to stabilize the system and mopped up around Rs. 17.00 billion in one week at 0.49%. This outflow turn to be insufficient and have no impact on the market and activity remained at the shallow levels. Again activity was confined in the short term due to which no major trades were observed in long-term market. Previous week's trend was prevailed in the market however, aggressive trading was seen in the bond market. Volatility was seen in long term bonds where heavy activity was witnessed in the latest ten-years issue.

 

 

The issue of 30th June, 2003 was early traded in the band of 4.55% and 4.60%. Later rates hiked and deals were struck around 4.73%. This hike in PIB yields are temporary as the market is flooded with surplus liquidity yield on PIBs are expected to ease off in the coming days. Heavy demand was also present in T-bills where desperate buying was seen in near one year to maturity paper at 1.50%, but no major trades were observed, trades in latest six months T-bill was executed as low as 1.00%.As the maturity of around Rs. 62.00 billion is due in the coming week market is expecting the T-bill target will be near maturing amount. Market is expected to remain at the on going levels and no major change is expected in the coming week.

REPO RATES

 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

Overnight

00.25

00.30

08.90

1 Week

00.40

00.60

06.75

1 Month

00.50

00.75

06.00

3 Month

00.80

00.95

05.85

6 Month

01.05

01.05

06.10

1 Year

01.45

01.50

06.60

 

 

 


 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Jul 23 T-Bill 06 mth Jul 23 Jul 24

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs.25,000 Mln.

Rs.60,575 Mln.

Rs.27,100 Mln.

 


 

MATURITIES

INSTRUMENT

DATE

AMOUNT

T-Bill

07 Aug

44,625 Mln.

T-Bill

21 Aug

22,500 Mln.

 

 


 

YIELD PROFILE

FEDERAL INVESTMENT BONDS

.

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Month

00.80

00.90

06.40

2 Month

00.85

00.90

06.00

3 Month

00.90

00.90

05.90

4 Month

00.90

00.90

06.00

5 Month

00.95

00.90

06.20

 


 

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

1 Year

01.60

01.60

06.85%

2 Year

02.00

02.00

07.40%

3 Year

02.50

02.45

07.75%

4 Year

03.00

03.00

08.00%

5 Year

03.55

03.45

08.75%

10 Year

04.65

04.58

09.80%