Yield on new 10-yr paper hardens by 8 bps over RBI cut-off point

The closing yield for the 2032 govt bond was 6.62% on Monday; RBI cut-off at auction was 6.54%

The yields on new benchmark paper – government bonds maturing in 2032 - hardened by eight basis points over 6.54 per cent, the cut-off point at which the Reserve Bank of India had accepted bids at bond auction.

The closing yield for new benchmark bonds 6.62 per cent on January 17, 2022, according to Clearing Corporation of India data. The bond auction for new paper was held on January 14, 2022 for a notified amount of Rs 13,000 crore.

It received bids worth Rs 24,495 crore but RBI made partial allotment of Rs 7,555 crore at a cut-off level of