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Short term T-bill yields flat; long term edge up

21 May 2013 08:36 am - 0     - {{hitsCtrl.values.hits}}

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Treasury bill yields remained more or less flat at the second T-bill issue after the policy rate cut by the Central Bank with 12-month bill yields edging up 2 basis points.

The 3-month Treasury bill yields remained flat at 8.75 percent while 6-month bill yields fell only 1 basis points. The 12-month bill yields rose 2 basis point to 108.6 percent.

The government sold Rs.2.25 billion worth of 3-month bills, Rs.3 billion worth 6-month bills and Rs.11 billion worth of 12-month bills.

The auction was held to re-issue 15 billion worth of maturing bills. It was oversubscribed with bids amounting to Rs.31.3 billion.

The Central Bank reduced policy rates by 50 basis points two weeks back to spur growth.

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