Traders on sidelines
PA Wellington Interest rates on the money market were little changed again yesterday, with most traders still on the sidelines awaiting next week’s Budget. Prime 90-day commercial bills eased slightly to 16.5 per cent (16.55 per cent on Tuesday), but dealers said there were few buyers and trading was thin.
On-call money was unchanged at 15.9 per cent, with the Reserve Bank assisting the market by injecting $63 million in sellback deals secured by 13-day stock.
Yields were 15.4 to 16.06 per cent. The Reserve Bank offered to advance $7O million, but just the $63 million was taken up.
Government stock quotes were unchanged at three years 16.8 per cent, five years 16.65 per cent and 10 years 16.05 per cent.
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Press, 24 July 1986, Page 29
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124Traders on sidelines Press, 24 July 1986, Page 29
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