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Mumbai, June 13

The bond market on Tuesday was bearish due to lack of trading interest and fears of rising inflation. Total volumes were less than Rs 1,000 crore. The auction of Government securities scheduled next week was also another concern, said dealers."After statements from the RBI Governor, which indicated that there could be another rate hike in July, traders are not very active. The expectation is that inflation could touch five per cent. Yields on the 10-year benchmark are expected to touch eight per cent before the monetary policy in July," said a dealer with a private bank. The 9.39 per cent five-year 2011 paper opened and closed at Rs 108.1 (7.43 per cent), unchanged from the previous close. The 7.59 per cent 10-year 2016 benchmark paper opened at Rs 98.5 (7.80 per cent YTM) and closed at Rs 98.49 (7.81 per cent YTM), down from Friday's level of Rs 98.55 (7.80 per cent YTM).

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