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The auction for state government 10-year bonds (10 states) to raise Rs 11,497 crore got subscribed partially amid highly volatile sentiment on the street. Eleven states including Karnataka, Andhra Pradesh and Madhya Pradesh raised about Rs 8,007.70 crore.
However, the cut-off rates were much higher than last auction held on July 16. All the cut-off yields were above 9% while in the previous auction the cut-off rate of only one state had breached the 9% mark.
