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Friday, January 09, 2015

Bond yield eases by 02 bps

10-year G-sec Paper yield closes at 7.84% 

The yield on 10-year benchmark federal paper, 8.40% GS 2024, eased by 02 basis points to close at 7.84% compared to 7.86% at close in the previous trading session. The total trading volume on central bank's gilts trading platform stood Rs 43,770 crore. 

Bond yield eased amid lower global oil prices and as cut off yields in weekly bond auction held today was in line with market expectations. However, the market sentiments remain cautious ahead of CPI inflation data due next week. 

The weighted average rate in the overnight call money eased to 8.01% compared with 8.03% in previous session. The call money rate hovered in the range of 6.50% to 8.25% with the volume of Rs 18,607.85 crore. 

The G-Sec auction worth Rs 14,000 crore held today was fully subscribed. The cut-off for 8.08% GOI 2022 was set at Rs 100.18, implying a yield of 8.05%. The cut-off for 8.40% GOI 2024 was set at Rs 103.57, implying a yield of 7.86%. The cut-off for 9.20% GOI 2030 was set at Rs 110.07, implying a yield of 8.06%. The cut-off for 8.30% GOI 2040 was set at Rs 102.95, implying a yield of 8.03%. 
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