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Wednesday, July 09, 2014

Bond yield close steady

10-year G-sec Paper yield closes at 8.73% 

The yield on 10-year benchmark federal paper, 8.83% GS 2023, closed steady at 8.73% same as the close in the previous trading session. The total trading volume on central bank's gilts trading platform stood at Rs 26080 crore. 

Bond yield closed flat after a small rally amid apprehensions over the upcoming Union Budget announcement that investors hope will be fiscally prudent. 

The weighted average rate in the overnight call money increased to 8.94% compared to 8.33% in the previous session. The call money rate hovered in the range of 8.00% to 9.00% with the volume of Rs 12708.93 crore. 

The 91-Days T-Bill auction worth Rs 9000 crore 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 was fully subscribed. The cut-off was set at Rs 92.04, implying a yield of 8.67%.
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