Selling push up yields
Selling pressure on Treasury (T) Bonds maturing on 2013 pushed its yield by 20 basis points (b.p.s) to 10.50% over that of Thursday’s close when trading opened on Friday, before coming down to close the week at the 10.37/40% levels, market sources told The Sunday Leader.
This initial selling pressure had cascading effects on other tenures, pushing those up by about 5-10 b.p.s, they said.
The 2012 maturing Bond in two way quotes were being traded at the 10/30/35% levels and the 2014 and 2015 at the 10/40/45% levels, the sources said.
Central Bank continued to prevent the rupee from appreciating, by buying U.S. dollars at the Rs. 114.80 levels in spot trading.
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