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In the Rs 15,000-crore government bond auction conducted by the Reserve Bank of India (RBI) on Friday, there was partial devolvement in the 7.68 per cent 2023 bond to the tune of Rs 1,265.50 crore due to lesser appetite by traders amid hardening yields. The total auction for the paper was for Rs 3,000 crore.
A bond trader with a state-run bank said, "There is lesser demand for bonds due to negative sentiments prevailing in the market. Even next week, bond yields may continue to rise." Meanwhile, the yield on the 10-year benchmark bond ended at 8.11 per cent on Friday, compared with its previous close of 8.09 per cent.
