Interest rates continue fall
PA Wellington Money market interest rates eased in active trading yesterday, continuing a downward trend in trading this week. The call rate settled at 17.50 per cent after trading between 17.50 and 18.50 on Wednesday and 90-day bank bills eased to 17.80 per cent compared with about 18.30. Dealers said sentiment is bullish, recent fundamentals have been positive and liquidity is expected to be reasonable throughout July.
Government stock yields eased ahead of a
$250 million Government stock tender yesterday. Benchmark February 1992 Government stock eased to 16.17 per cent against 16.22 on Wednesday.
Rates in the stock tender were expected to be near current physical market yields. Bids closed at noon yesterday and the results are due at the same time today.
The tender is the first in a revised tender programme seeking $950 million for the remainder of the fiscal year ending March, 1988.
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Press, 10 July 1987, Page 12
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150Interest rates continue fall Press, 10 July 1987, Page 12
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