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Mumbai, Feb. 10

Bond prices fell by as much as Re 1 after the government announced it would borrow an additional Rs 46,000 crore. This was more than market expectations of about Rs 25,000-30,000 crore. A bond dealer with a private bank said, “Auctions worth Rs 46,000 crore in a single month is too much for anyone to digest.” Bond yields have been moving upwards for some days now and unless the RBI announces some positive measure like a rate cut, private placement or an MSS buy back there is no reason for yields to ease, he added. The total traded volumes on the order matching system were to the tune of Rs 6,795 crore. The 6.05 per cent 10-year 2019 benchmark paper opened Rs 101.4 (5.86 per cent YTM) and closed at Rs 110.4 (5.99 per cent YTM). The most actively traded 8.24 per cent 2018 paper opened at Rs 113.5 (6.28 per cent YTM) and closed at Rs 112 (6.48 per cent YTM), against the previous close of Rs 113.15.

— Our Bureau

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