PIB Auction – SBP Sells Bonds worth 94Bn against target of 50Bn

    The State Bank conducted an auction on Oct 07, 2015 in which it sold bonds worth 94 Bn against a pre-auction target of 50 bn. This was the first auction since the policy rate cut and yields were marginally lower compared to the previous auction of Sept 09, 2015.

    The highest concentration of bids was for the 5Y Bond, followed by the 3Y and 10Y bonds while the 20Y Bond received no bids.

    Below is the summary of the auction

    TenorBid Amount% of Total BidsAmount Accepted% of Total AcceptedCut Off Yield
    3Y88,572.0044.93%39,982.0042.50%7.1967
    5Y103,075.0052.29%53,600.0056.97%8.1805
    10Y5,492.802.79%5000.53%9.2299
    20Y0    
    Total197,139.80 94,082.00  

    *Bid & Accepted Face Value  in Millions

    Cut Off Yields Fall

    Yield Comparison to Previous Auction

    TenorOct 07, 2015Sep 09, 2015Change
    3Y7.19677.3536-0.1569
    5Y8.18058.3338-0.1533
    10Y9.22999.3406-0.1107
    20Y

    The 20Y Bond has not received any bids in the last 9 Auctions.

    The Next PIB Auction is scheduled for Nov, 18 2015

    Posted on: 2015-10-07T19:30:00+05:00