WEDNESDAY 10 March, 2010 
  HOME IN FOCUS MEDIA
WATCH		 EQUITY FOREX FIXED
INCOME		 TRAILBLAZER COMMODITY
         
Active Tenor    
     1 Week 12.15%-12.25%     
     1 Month 12.05%-12.12%     
     - 0     
Kibor    
    Tenor BID ASK     
    6 month 12.14      12.39     
Discounting    

     Amount

 13.79   
T-bill Auction    
  - - -    
    Accepted(bn) - - -    
    Cutoff - - -    

Yield Curve    

Repo Rates    

Outlook    

Sentiment
N.A.
Outlook
N.A.
 
 

Fixed Income Roundup
Shorter tenors are expected to remain stable while longer tenor are expected to display an upward trend
Activity was seen in 10 year PIB at 12.630-12.635%, in 1 week tenor at 12.15-12.25% and in 1 month tenor at 12.05-12.12%. Banks borrowed PKR13.795bn from the SBP at the ceiling rate. Shorter tenors are expected to remain stable, while longer tenor are expected to display an upward trend.
Fixed Income Rates
  % ON 1W 2W 1M 2M 3M 4M 5M 6M

1Y
 Bid 12.40 12.10 12.10 12.05 12.05 12.10 12.10 12.10 12.15 12.25
 Offer 12.45 12.25 12.20 12.15 12.15 12.20 12.20 12.25 12.30 12.45
                       
 Bid 12.45 12.20 12.25 12.15 12.20 12.20 12.25 12.25 12.20 12.40
 Offer 12.60 12.35 12.35 12.30 12.40 12.45 12.50 12.50 12.50 12.60
                       
 Bid 12.10 12.00 12.15 12.00 12.25 12.50 12.90 12.90 13.15 13.40
 Offer 12.20 12.20 12.40 12.50 12.75 12.80 13.25 13.25 13.50 13.75
                           
  Year 1 2 3 4 5 6 7 8 9 10 15 20
 Bid 12.30 12.45 12.45 12.50 12.50 12.65 12.65 12.68 12.64 12.64 13.10 13.20
 Offer 12.20 12.35 12.35 12.43 12.43 12.60 12.60 12.62 12.62 12.62 12.90 13.05
                           
 
International Yields
Country Policy Rate 3m Treasury 3m Swap 10yr G.Bond 
  PKR 12.50  12.20  -  12.63 
  USD 0.18  0.07  1.71  3.58 
  EURO 1.00  0.60  2.03  3.19 
  GBP 0.50  0.44  2.31  3.90 
  YEN 0.11  0.27  0.52  1.31 
  INR 6.00  3.78  4.55  7.70 
 
Tech Corner
Fixed Income technical chart
 
 
         
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DISCLAIMER
This memorandum is produced by BMA Capital Management Limited and is only for the use of their clients. While the information contained herein is from sources believed reliable, we do not represent that it is accurate or complete and should not be relied upon as such. Opinions expressed may be revised at any time. This memorandum is for information only and is not an offer to buy or sell, or solicitation of any offer to buy or sell the securities mentioned.