May 22, 2019 (MLN): The State Bank of Pakistan released the Bid Pattern for today's MTB Auction.
Auction Target is Rs.600 Billion against a maturing amount of Rs.500.663 Billion.
The SBP received bids worth Rs.3.268 trillion, out of which only Rs.1.5 billion were for 6 months while no bids were made for the 12 month Treasury.
This is the first auction since the SBP raised the Policy rate by 150 bps. The lack of participation in longer tenors signals the markets view that interest rates will continue to rise in the up coming months.
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