Secondary Bond market range-bound

THE secondary bond market for the holiday-shortened week ending 17 April saw yields trade largely range-bound. The sideways momentum resulted in the market entering a consolidation phase, as participants adopted a cautious stance amid the absence of strong directional cues.

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Market activity and transaction volumes remained at decent levels despite the holiday lull. The majority of the action was centred on the 2028/28 and 15.03.28 maturities as yields trade within the range of 10.05% - 9.98 %. The 01.07.28 maturity was also underwritten at the rate of 10.27%-10.24%. The 15.09.29 and 15.12.29 maturities traded at the rate of 10.50% and 10.56% respectively. The 15.03.31 and 15.12.31 maturities were both seen trading at the rate of 11.15%.