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Wednesday, June 11, 2014

Bond yield eases by 02 bps

10-year G-sec Paper yield closes at 8.54% 

The yield on 10-year benchmark federal paper, 8.83% GS 2023, eased by 02 basis points to close at 8.54% compared to 8.56% at close in the previous trading session. The total trading volume on central banks gilts trading platform stood at Rs 47150 crore. 

Bond yield eased after a news said that the finance ministry may issue a new 10-year bond only after the budget is finalised. But the investors shy away from taking large positions ahead of result of a debt limit sale for foreign investors. 

The weighted average rate in the overnight call money eased to 7.87% compared to 7.98% in the previous session. The call money rate hovered in the range of 7.00% to 8.40% with the volume of Rs 17278.43 crore. 

The 91-Days T-Bill auction worth Rs 8000 crore held today was fully subscribed. The cut-off was set at Rs 97.91, implying a yield of 8.56%. The 364-Days T-Bill auction worth Rs 6000 crore held today was fully subscribed. The cut-off was set at Rs 92.10, implying a yield of 8.60%.
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