FINEX WEEK

 

 

By SHABBIR H. KAZMI
Updated Sept 27, 2003

 

This week central bank mopped Rs 22.50 billion from the market through OMO against the maturity of Rs. 16.15 billion. But no major movements in rates were observed and market remained flooded with liquidity which restricted the rates at the lower end of the spectrum. This week major activity was seen in two weeks as it provided the opportunity to cross over the quarter end, due to which banks covered their positions around 1.25%. Volatility was witnessed in one month, and initially traded around 1.50%, rates

 

 

eased and deals were executed around 1.30%. Near the end of the week rates bounced back to the higher side and were quoted in the band of 1.20% and 1.50%. Aggressive trading in long term securities continued this week as well, activity in when issue ten year PIB was initially seen at as high as 6.35%. Later yields on this paper eased and activity took place as low as 6.10%, but near the close of the week bounced back to the higher side and activity were witnessed in the band of 6.15% and 6.20%. Corporate demand was seen for PlBs which have 13% and 14% coupon due to which deals in respective papers were dealt in the band of 6.40% and 6.50%.

YIELD PROFILE

FEDERAL INVESTMENT BONDS

.

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

02.60

02.25

06.50%

2 Year

03.50

03.30

06.75%

3 Year

04.10

03.90

07.10%

4 Year

04.60

04.25

07.75%

5 Year

05.10

04.85

08.10%

10 Year

06.25

05.90

09.20%

 


 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Sep 17 T-Bill 06 mth. Sep 17 Sep 18

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs.15,000 Mln.

Rs.35,800 Mln.

Rs.14,550 Mln.

 

 

 


 

MATURITIES

INSTRUMENT

DATE

AMOUNT

T-Bill

04 Sep

30,650 Mln.

 


 

REPO RATES

 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

Overnight

00.60

00.55

08.90

1 Week

01.00

00.70

08.45

1 Month

01.30

01.30

06.75

3 Month

01.55

01.50

06.10

6 Month

01.80

01.65

05.95

1 Year

02.35

01.90

06.30

 


 

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

1 Month

01.40

01.35

07.25

2 Month

01.50

01.45

06.40

3 Month

01.60

01.50

06.20

4 Month

01.70

01.65

06.10

5 Month

01.80

01.70

05.85