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Our Bureau

Mumbai, June 11

Bond prices crashed by nearly a rupee reacting to RBI's announcement of Treasury bill and government security auctions worth Rs 22,000 crore this week. The total traded volumes on the order matching system were Rs 2,510 crore (Rs 4,445 crore). "The sentiment was bearish and the yields have inched up by 15 basis points. They are likely to harden further by 6-7 basis points this week," said a dealer at a private bank. Market participants said the auctions this week would drain out excess cash from the system.

The yield on the auctioned 91-day Treasury bill inched up to 7.73 per cent, compared to Friday's 7.1 per cent. The yield on the 182-day Treasury bill was also higher at 7.81 per cent, against Friday's 7.25 per cent. The 7.49 per cent-10 year-2017 paper opened at Rs 94.75 (8.28 per cent YTM) and closed at Rs 94.27 (8.35 per cent YTM) against the previous close of Rs 95.30 (8.19 per cent YTM). The 8.07 per cent-10-year-2017 paper opened at Rs 98.91 (8.23 per cent YTM) and closed at Rs 98.92 (8.23 per cent YTM) against Friday's close of Rs 99.54 (8.14 per cent YTM).

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