Business Standard

10-year bond yield at highest since November on Budget 2023 jitters

Last auction before Budget sees weak demand; market fears large borrowing in FY24

Bond yields slide as reports tout progress in global listing of Indian debt

Bhaskar Dutta Mumbai
Yields on government bonds rose sharply on Friday, with a scheduled primary auction of sovereign debt seeing tepid demand, as market participants braced for the Centre announcing a record-high borrowing programme for the next financial year.

The 10-year benchmark bond yield closed at 7.39 per cent on Friday, four basis points higher than previous close. Bond prices and yields move inversely. A rise of one basis point in the yield on the 10-year paper corresponds to a fall in price of around 7 paise.

Friday’s level marks the highest closing yield for the 10-year benchmark bond since November 7. Intra-day,

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First Published: Jan 27 2023 | 7:12 PM IST

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