(Bloomberg) – Sri Lanka’s bonds fell ahead of an auction of 70 billion rupees ($400m) of Treasury debt Thursday.
* Rates are up ahead of the auction and amid selling after an “overreaction” to a recent drop in yields, says Dimantha Mathew, head of research at First Capital in Colombo
* Yield on 10.9% govt bonds due in March 2024 rose 6bps to 10.38% on Wednesday: data compiled by Bloomberg
* Monetary authority on Wednesday sold 17.7b rupees of Treasury bills
* USD/LKR little changed at 176.51
* Global funds sold a net $0.2m of local shares on Wednesday, taking withdrawals for the year to $31.9m: exchange data