Sri Lanka Treasury bill yields drop after tax hike

ECONOMYNEXT – Sri Lanka’s Treasury bill yields dropped across maturities at Wednesday’s auction with the 3-month yield dropping 90 basis points, with more money that at previous auctions coming from 12-month bills, data from the state debt office showed.

“There is little more confidence in the market,” a dealer said. “The tax increases show steps are being taken in the right direction though the supplementary estimate is also there.”

The debt office sold 37 billion rupees of 3-month bills at 22.75 percent down 90 basis points after offering 40 billion rupees.

25.22 billion rupees of 6-month bills were sold at 23.60 percent, down 62 basis points, after offering 23 billion rupees.

20.5 billion rupees of 12-month bills were sold at 23.75 percent, after offering 20 billion rupees.

The debt office offered 83 billion rupees of bills and sold all. (Colombo/June01/2022)

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