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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
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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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