In recent weeks, activities in the domestic bonds market have remained subdued owing to renewed interest in the equities market as well as investors’ interest in shorter tenored fixed income securities (treasury bills and Open Market Operation) trading at more attractive rates over the longer tenored bonds.
As such, the trend was sustained last week as marginal swings in average yield were recorded. The bulls consolidated their hold on the stock market last week as investors’ sentiments remained positive. The market was upbeat throughout the week due to renewed demand by bargain hunters. Many of the investors were taking position ahead of corporate half year financial results announcement.