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Treasury Bill Yield Changes
Weighted Average Yield Rate (WAYR) increase across tenors
Primary Sources
Treasury bill yields climb - Hiru News - Srilanka's Number One News ...
Yields on Treasury bills rose across all tenors at the latest auction, marking the first such increase in over two months following an upward trend in the secondary market.Rising market concerns over the economic outlook drove this shift, with secondary market yields already climbing by 25–30 basis points over the past two weeks, according to First Capital Manager of Research Ranjan Ranatunga. He noted that investors now price a higher risk premium on Government securities due to expectations of a potential balance of payments crisis, a depreciating rupee, and rising inflation. External shocks—including a potential slowdown in remittances, exports, and tourism alongside rising import costs from the oil crisis—place additional pressure on the Central Bank’s ability to manage foreign exchange.Bids at the auction arrived at higher rates, leading the Government to reject a significant portion of them. While the Public Debt Management Office (PDMO) offered Rs. 80 billion, it accepted only Rs. 34.9 billion, representing an acceptance rate of roughly 43.6%. Accepting the full auction would require yields to jump by an estimated 13–15 basis points, a move the PDMO appears reluctant to accommodate.Specific auction results showed:3-month bills: Weighted Average Yield Rate (WAYR) rose to 7.64% (up 3 basis points).6-month bills: WAYR increased to 7.95% (up 4 basis points).12-month bills: WAYR reached 8.32% (up 9 basis points).
Yields Across the Board Continue to Rise - Ceylon Today
By Paneetha Ameresekere Finance Ministry’s historic endeavour of trying to keep yields artificially down at Tuesday’s (31 March) weekly Treasury (T) Bill auction by offering for the first time in T-Bill issuances near 103 year old history, a lower volume to the market than that which was realistically required to repay previous T-Bill maturities, backfired, with weighted average yields (WAYs) across the board rising for the second consecutive market week after nearly three months, this time sharply. WAYs of the 91, 182 and the benchmark 364 day maturities steeply increased by 16, 14 and nine basis points (bps) each, week on week (WoW) to 7.80, 8.09 and 8.41 per cent respectively, at Tuesday’s auction. Though the Finance Ministry offered a total of Rs 90,000 million worth of gross value T-Bills comprising all the above three maturities at Tuesday’s T-Bill auction, compared to a higher amount that was actually needed, in a vain bid to keep yields down, the Ministry finally sold an infinitesimal 36.11 per cent (Rs 32,498 million) of all three maturities at Tuesday’s auction. Tuesday was also the sixth consecutive market week that the Finance Ministry sold only a fraction of the T-Bills offered to the market compared to their original offer. In the near 103 year history of T-Bill issuances in the country, in gross value terms, the practice that has been followed is that the total value of gross T-Bills offered at a new T-Bill auction is at least sufficient to repay gross T-Bill maturities previously borrowed from the market by the Government of Sri Lanka (GoSL) and now due for repayment, which, however, was not so at Tuesday’s auction. Consequently Tuesday’s auction, in the annals of Sri Lanka’s near 103 year old T-Bill issuances history, was different. In this connection, the Finance Ministry, on behalf of the GoSL, by Good Friday (3 April), had had to repay to the market, known T-Bill maturities comprising all three tenures, namely 91,182 and 364-day maturities, of gross value totalling Rs 126,634 million, cumulatively. Additionally, the Finance Ministry, on behalf of the GoSL, had had also to repay an unknown 364-day maturity, which, however, was embedded together with both 91 and 182-day tenures, also of an unknown values, but, cumulatively totalling in gross value a sum of Rs 14,300 million in full, also to the market, by Good Friday. Finally, if there had been any T-Bill maturities due to the Central Bank of Sri Lanka (CBSL) by GoSL (generally , s...
Sri Lanka sells extra Rs200mn Treasury bills after auction
Sri Lanka has sold 200 million rupees of treasury bills offered on tap at average rates of 8.09 percent and 8.41 percent, the public debt management office said, bringing the total of bills sold last week to 32,698 million rupees.
Sri Lankan Rupee Remains Stable as Bond Yields Show Little Change
FINANCIAL CHRONICLE - On Monday, the Sri Lankan rupee was valued at 315.35/55 against the US dollar in the spot market, a slight increase from 315.20/60 observed last Thursday prior to the long weekend, according to market dealers. Meanwhile, bond yields remained largely unchanged.
