FINEX WEEK

 

 

By SHABBIR H. KAZMI
Updated March 12, 2004

 

Compared to last week, activity was witnessed at the higher side and overnight deals were executed in the wide band of 0.75% to 7.00%. Initially overnight activity was witnessed in the band of 0.75% and 1.25%, but by the mid of the week rates hiked and finally touched the sky high levels of 7.00%. This week, medium tenors of one and two weeks were seen active and initially were dealt around 1.00% and 1.25%, but later on deals were executed at the levels 

 

 

of 1.35% and 1.50% respectively. Keen covering continued in one month and funds after changing hands at 1.30% took a hike and activity was observed around 1.65%. In the long term, three months was the most active tenor and bids and offers were quoted in the band of 1.60% and 1.70% and activity took place around 1.65%. No significant activity was seen in T-bills, however, major trading was witnessed in 10 year PIBs. Initial trades in PIB 10 year issue of 6th October, 2003 took place in the band of 6.35% and 6.37%, but due to the selling pressure reached the levels of 6.42%. Demand for three year PIB issue of 06/10/03 was seen and trades were seen at 3.63%.

YIELD PROFILE

FEDERAL INVESTMENT BONDS

.

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

02.15

02.10

02.40%

2 Year

02.90

02.90

02.90%

3 Year

03.70

03.65

03.20%

4 Year

04 50

04.45

03.80%

5 Year

04.80

04.70

04.00%

10 Year

06.40

06.33

04.50%

 

 

 


 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Mar 03 T-Bill 03 mth. Mar 03 Mar 04

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs.20,000 Mln.

Rs.28,185 Mln.

Rs.18,435 Mln

 


 

MATURITIES

INSTRUMENT

DATE

AMOUNT

T-Bill

18 Mar

38,175 Mln.

 


 

REPO RATES

 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

Overnight

06.25

01.50

01.75

1 Week

03.00

01.50

01.50

1 Month

01.85

01.65

01.40

3 Month

01.70

01.55

01.60

6 Month

01.75

01.65

02.05

1 Year

02.00

01.95

02.33

 

 

 


 

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

1 Month

01.90

01.70

01.85

2 Month

01.60

01.50

01.90

3 Month

01.55

01.50

01.95

4 Month

01.65

01.60

01.95

5 Month

01.70

01.70

02.00