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Mumbai, Sept 10

Bond prices rose by 20-30 paise on Monday tracking the rally in US treasury yields. Total traded volumes on the order matching system were Rs 6,580 crore (Rs 7,390 crore). Dealers said that bond prices opened higher as the US 10-year yield eased from 4.51 per cent to 4.37 per cent. “US employment data, which was released recently, was unfavourable and hence the view that the US Fed will cut rates has gained ground. The US treasury yields rallied and the Indian yields followed,” said a dealer at a private bank. Market participants were also relieved that the Reserve Bank of India has not scheduled an auction of a dated security this week. The 7.49 per cent 10-year 2017 paper opened at Rs 97.5 (7.86 per cent YTM) and ended at Rs 97.51 (7.86 per cent YTM), against the previous close of Rs 97.32 (7.89 per cent YTM). The 7.99 per cent 10-year 2017 paper opened at Rs 101.15 (7.82 per cent YTM) and ended at Rs 101.04 (7.83 per cent YTM), against the previous close of Rs 100.73 (7.88 per cent YTM). –

Our Bureau

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