Mumbai: Federal bond yields stayed near three-week highs in thin trade on Friday ahead of the auction results of a Rs100 billion federal debt.
At 1:05pm, the yield on the most actively traded 8.24% bond maturing in 2018 was quoted at 6.21%, off a high of 6.25%, a level last seen on 9 January, and above Thursday’s close of 6.11%.
The 7.56% 2014 bond, the second most traded security, rose to 5.99% from Thursday’s close of 5.91%.
The results of the auction are due later in the day. The bonds on offer include Rs40 billion of a new 10-year security and Rs30 billion each of 7.56% 2014 and 6.83% 2039 bonds.