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Bloomberg Comment – 18-06-2018

LKR Bond Yields Edge Higher Ahead of GDP Data: Inside Sri Lanka (Bloomberg)
2018-06-18 03:24:52.326 GMT

By Anusha Ondaatjie

(Bloomberg) — Yields on Sri Lankan bonds edged higher ahead of the release of 1Q GDP data.

* Statistics dept to release growth figures at 3 pm local time Monday; local markets were shut Friday for a public holiday

* Yield on 10% govt bonds due March 2023 rose 2bps to 10.43% on Thursday: data compiled by Bloomberg

* “It will be very critical to see whether the economy has picked up,” says Dimantha Mathew, head of research at First Capital in Colombo

** “If growth is lagging, it could tilt the central bank toward an easing bias, which could help prop up bond prices”

* USD/LKR capped a fourth straight weekly gain on Friday, after reaching a record 160.25 on Thursday

* Overseas funds sold a net $0.2m of local stocks Thursday, paring inflows for this month to $3.8m: exchange data