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Friday, May 09, 2014

Bond yield eases by 01 bp

10-year G-sec Paper yield closes at 8.75% 

The yield on 10-year benchmark federal paper, 8.83% GS 2023, decreased 01 basis point to end at 8.75% compared to 8.76% at close in the previous trading session. The total trading volume on central bank's gilts trading platform stood at Rs 45240 crore. 

The bond yield fell by 01 bp after easing to near two months low of 8.72% in earlier trade on hopes of BJP winning majority in the general elections, the result of which is due on 16 May. 

The weighted average rate in the overnight call money increased to 8.28% compared to 7.97% in the previous session. The call money rate hovered in the range of 7.75% to 9.00% with the volume of Rs 15339.94 crore. 

The G-Sec auction worth Rs 16000 crore held today was fully subscribed. The cut-off for auction of 7.80% GOI 2020 was set at Rs 94.93, implying a yield of 8.91%. The cut-off for auction of 8.32% GOI 2032 was set at Rs 93.90, implying a yield of 9.00%. The cut-off for auction of 8.83% GOI 2023 was set at Rs 100.51, implying a yield of 8.75%. The cut-off for auction of 8.30% GOI 2042 was set at Rs 92.64, implying a yield of 9.02%.
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