MarketData
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Fixed Income And Currency Market
9 Apr 2023
1st auction for FY24 is bullish for bonds
During the auction of government bonds on 6th April, auction cut-off yield came down as compared to that in auctions conducted during the end of FY23. This bullishness can be attributed due to RBI’s pause in rate hike recently conducted at the MPC meeting. On 6th April auction cut-off yield of New 5-year paper, 7.26% GS 2033 & 7.36% GS 2052 stood at 7.06%, 7.21% & 7.35% respectively as compared to cut-of yield of 7.40%, 7.45% & 7.38% of the papers 7.10% GS 2029, 7.10% GS 2029 & 7.40% GS 2062 respectively.
Subhasis Mishra
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