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Bloomberg Comment – 03-07-2018

LKR Bond Yields May Rise as Borrowings Climb: Inside Sri Lanka
2018-07-03 03:44:15.523 GMT
By Anusha Ondaatjie

(Bloomberg) — Sri Lanka’s bond yields are likely to edge higher amid a potential increase in the government’s borrowing needs, according to First Capital Holdings.

* “We are expecting a bunching up of debt this month and into August,” which is likely to drive up yields, says Dimantha Mathew, head of research at First Capital in Colombo

* Yield on 11.5% bonds due December 2021 rose 2bps to 10.10% on Monday: data compiled by Bloomberg

* USD/LKR down 0.1% at 158.30 after rising as much on Monday

* Overseas investors sold a net $2m of local stocks on Monday, after an inflow of $0.3m in all of June: exchange data