Page 2 - Bond Auction
Average cut-off yield spikes by 12 bps to 7.84% at state bond action
Dealers said Bengal and UP raised amounts via bonds with 15-17 year maturity and cut-off yield above 7.9%; pricing likely to remain under pressure in near term
 "Average cut-off yield spikes by 12 bps to 7.84% at state bond action")
RBI likely to set 7.23% cutoff yield on new 10-year bond: Reuters poll
RBI will likely set a cutoff yield of 7.23% on 130 billion rupees ($1.63 billion) of the new 10-year bond being auctioned on Friday, according to the median estimates in a Reuters poll
 "RBI likely to set 7.23% cutoff yield on new 10-year bond: Reuters poll")
Cut-off yields ease by 7-8 bps at State bond auction as borrowings taper
This week, spread between weighted average 10-year SDL and 10-year GOI bond yield was up slightly to 37 bps from 36 bps earlier
 "Cut-off yields ease by 7-8 bps at State bond auction as borrowings taper")
Govt bond for Rs 33,000 crore sails through as RBI accepts bids
Signals central bank's comfort with yields
 "Govt bond for Rs 33,000 crore sails through as RBI accepts bids")
Reserve Bank of India changes methodology to ensure bond auction success
Adopts uniform price auction for bonds up to 14 years till further notice
 "Reserve Bank of India changes methodology to ensure bond auction success")
Amid global rout, govt cancels last bond auction of FY21
The government decided to cancel the auction on review of its cash balances, RBI said in a statement after close of markets Monday
 "Amid global rout, govt cancels last bond auction of FY21")
Primary dealer fees rise over 40x as RBI lures them to underwrite auctions
The central bank is offering commissions as high as 50 paise per Rs 100 face value for a bond maturing in 2050, compared with just 1.24 paise on April 30, 2020
 "Primary dealer fees rise over 40x as RBI lures them to underwrite auctions")
Street signs: Lacklustre retail demand for OFS, bond sales, and more
Retail investors - those investing up to Rs 200,000 - did not subscribe to all the shares on offer despite arbitrage gains on the table
 "Street signs: Lacklustre retail demand for OFS, bond sales, and more")
UP allows retail investors to bid for govt bonds on non-competitive basis
They can specify the amount they want to buy, without quoting yield or price; allotment will be on weighted average price/yield of institutional buyers
 "UP allows retail investors to bid for govt bonds on non-competitive basis")
RBI manages to sell entire stock in Friday's Rs 120-bn bond auction
RBI, on behalf of the government, sold five bonds, including one fixed rate bond maturing in 2031, against which it raised Rs 40 bn
 "RBI manages to sell entire stock in Friday's Rs 120-bn bond auction")
Govt unlikely to cancel bond auctions despite spike in yields: Source
Economic Affairs Secretary Subhash Chandra Garg will review the bond market's recent volatility later on Friday
 "Govt unlikely to cancel bond auctions despite spike in yields: Source")
