Drop in stock tender
PA Wellington Interest rates on Government stock dropped sharply at this week’s SSOOM tender, as against rates set at the last tender two weeks ago. Rates on average were about 1.6 per cent lower than those of the April 4 tender. They were in line with lower rates set earlier this week by the secondary money market.
Dealers bid an enormous $2755M for the SSOOM on offer, double the $1326M bid at the last tender when S3SOM was tendered. Stock tender details: September 1989 stock: Offered, SISOM; bid, $1152M; sold, SISOM; successful yields, 18.0’ per cent to 18.67 per cent; weighted average, 18.604 per cent; Previous average, 20.427 per cent. June 1991 stock: — offered, S2OOM; bid, $1043M; sold, S2OOM; successful yields, 17.41 per cent to 17.98 per cent; weighted average, 17.929 per cent; previous average, 19.697 per cent. July 1994 stock: offered, SISOM; bid, SS6OM; sold, SISOM; successful yields, 17.22 per cent to 17.34 per cent; weighted average, 17.307 per cent; Previous average 18.81 per cent.
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Bibliographic details
Press, 19 April 1986, Page 21
Word Count
170Drop in stock tender Press, 19 April 1986, Page 21
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