Rates reversal
PA Wellington Money market interest rates eased gently yesterday in a reversal of Friday’s firmer rates. Dealers said trading was not busy and that no clear trend had developed since the September tender 10 days ago. The next tender is on October 16. Government stock quotes were three years 15.9 per cent (16 per cent on Friday), five years 15.75 per cent (15.9 per cent) and 10 years 15.3 per cent (15.4 per cent). February, 1992, stock bought at the last tender by one bank has still not hit the market and the buyer has not been identified. Prime 90-day commercial bills eased to 15.35 per cent (15.7 per cent) while on-call money
dropped to 14.1 per cent (14.5 per cent). The Reserve Bank saw plenty of spare cash in the system and successfully tendered $l4O million of Treasury bills in an open market offer. Sales were $64 million of January 8 bills, $32 million of March 12 bills and $44 million of March 13 bills. Yields were 15.29 to 15.43 per cent.
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Press, 30 September 1986, Page 22
Word Count
175Rates reversal Press, 30 September 1986, Page 22
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