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Mettis Global News
Mettis Global News

MPS Preview: High for Longer

MTB Auction – Yields Up and All 12M Bids Rejected

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The SBP sold Rs.133.035Bn in Treasury Bills against a pre-auction target of Rs.150bn in its lastest MTB auction conducted on Wednesday. The Yields witnessed an increase and all Bids for the 12M instrument were rejected. The Cutoff for 3M was up 13.5bps at 6.3933 and the 6M was up 8.5bps at 6.3946.

The SBP Recieved Bids worth Rs.253.446Bn mostly concentrated in the 3M instrument.

Tenor Maturity Bids # Bid Amount Bid Range
3M 18-Feb-16 60 192,585.00 6.2144 – 6.4828
6M 26-May-16 21 57,160.00 6.3519 – 6.4800
12M 24-Nov-16 6 3,701.00 6.4005 – 6.4914

Out of the Above, the SBP Accepted the following

Tenor Cutoff Yld W.A Yield Realized Face Value
3M 6.3933 6.3691 121,198.51 122,975.00
6M 6.3946 6.3837 9,749.66 10,060.00
12M Bids Rejected

Changes in Yield

Tenor 25-Oct-15 11-Oct-15 Change
3M 6.3933 6.2591 0.1342
6M 6.3946 6.3092 0.0854
12M 6.3098

In the Non Competitive Auction the SBP sold T-Bills worth Rs.8.14Bn, making the total size of the Auction Rs.141Bn.

Posted on: 2015-11-26T08:20:00+05:00