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HomeUncategorizedMTB Auction - Yields Decline Slightly in Latest Auction

MTB Auction – Yields Decline Slightly in Latest Auction

The Central Bank sold Treasury Bills worth Rs. 304.98 Billion against a pre-auction target of Rs.350 Billion. Yields declined marginally across all tenors. The SBP had received bids for Rs.606 billion mostly concentrated in 3M and 1Y.

Tenor Maturity Bids # Bid Amount Bid Range
Bids Received
3M 14-Apr-16 61 228,263.00 6.0803 – 6.3933
6M 21-Jul-16 62 140,074.15 6.0960 – 6.3092
12M 19-Jan-17 106 237,901.48 6.0950 – 6.3325
      606,238.63  

Out of the Above, the SBP accepted the following:

Tenor Cutoff Yld W.A Yield Realized Face Value
Auction Result
3M 6.1697 6.1617 73,688.08 74,733.00
6M 6.1812 6.1662 55,996.32 57,718.00
12M 6.2306 6.1702 162,535.67 172,537.00
        304,988.00

In addition to the above the SBP accepted Rs.24.88 billion from Non competitive bids making the total size of the Auction Rs.329.87 Billion.

Yield Comparison Vs Previous Auction
Tenor 20-Jan-16 06-Jan-16 Change
3M 6.1697 6.3038 -0.1341
6M 6.1812 6.3092 -0.128
1Y 6.2306 6.3098 -0.0792

 

Posted on: 2016-01-20T17:28:00+05:00
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