<div id="readability-page-1"><div id="parent_top_div">Government bond yields remained steady on Friday after the cut-off yield on the new 10-year bond was set in line with market expectations, said dealers. The government sold Rs 32,000 crore worth of the new 10-year government bonds on Friday. The cut-off yield was set at 6.48 per cent. The yield on the benchmark 10-year government bond settled at 6.51 per cent, unchanged from Thursday. Why did the bond market remain steady after the auction? “The cut-off yield was along the expected lines. The market was steady today (Friday); however, the market will take cues from the movement in the US Treasury yields on Monday,” said a dealer at a primary dealership. The market was cautious ahead of the weekly auction as, last week, the Reserve Bank of India (RBI) cancelled the auction for the seven-year government bond after investors demanded a yield of around 6.50 per cent—higher than the yield on the new 10-year bond—a level the central bank was unwilling to accept. What factors are influencing bond yields? A combination of factors, including excess supply of long-duration bonds, fading expectations of further rate cuts, and short positioning by investors, has impeded monetary transmission in the bond market. Despite a cumulative 100-basis-point reduction in the repo rate between February and June, the 10-year bond yield has not eased in line with policy rates and has instead inched higher since the 50-basis-point cut in June. The yield on the benchmark 10-year government bond has risen by 24 basis points since June, while the yield on the 10-year US Treasury bond has fallen by 32 basis points during the same period. What will the market watch next week? “The cues will be taken from the state bond auction next week,” said a dealer at a state-owned bank. Seven states raised Rs 11,600 crore at the weekly bond auction on Tuesday, lower than the notified amount of Rs 13,600 crore. Maharashtra rejected all bids for the reissue of its 2050 and 2055 bonds, each worth Rs 1,000 crore. The borrowed amount was significantly less than the Rs 19,450 crore indicated in the borrowing calendar. States and Union Territories plan to borrow up to Rs 2.81 trillion through state government securities in the third quarter of the current financial year.</div></div>

主动管理债券 ETF - PIMCO

美国中期国债 ETF - iShares

政府债券收益率保持稳定，新发行的 10 年期债券的截止收益率设定为 6.48%，与市场预期一致。政府出售了价值 32000 亿印度卢比的债券，基准收益率为 6.51%。过剩供应、减息预期减弱以及投资者的持仓等因素正在影响收益率。市场将关注即将举行的州债拍卖的线索，各州计划在第三季度借款高达 2.81 万亿印度卢比

政府债券收益率保持稳定，因为新的 10 年期债券的截止收益率符合市场预期