<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>

主動管理債券 ETF - PIMCO

美國中期國債 ETF - iShares

政府債券收益率保持穩定，新發行的 10 年期債券的截止收益率設定為 6.48%，與市場預期一致。政府出售了價值 32000 億印度盧比的債券，基準收益率為 6.51%。過剩供應、減息預期減弱以及投資者的持倉等因素正在影響收益率。市場將關注即將舉行的州債拍賣的線索，各州計劃在第三季度借款高達 2.81 萬億印度盧比

政府債券收益率保持穩定，因為新的 10 年期債券的截止收益率符合市場預期