Bond yields edged lower tracking an overnight rise in crude oil prices and an uptick in U.S. yields.
On the global front, U.S. Treasuries' prices rose on Tuesday, getting a lift from investors turning away from weakening Wall Street equities and reawakened geopolitical worries due to fighting in Iraq. Meanwhile, Brent crude inched lower on Wednesday, but held close to a nine-month high above $114 a barrel as Sunni insurgents battled government forces for control of Iraq's biggest refinery.
Back home, the yields on new 10 year Government Stock 2023 were trading 1 basis point higher at 8.73% from its previous close of 8.72% on Tuesday.
The benchmark five-year interest rate swaps were trading 2 basis points higher at 7.99% from its previous close of 7.97% on Tuesday.
The Reserve Bank of India has announced the auction of 91 and 364 days Government of India Treasury Bills for notified amount of Rs 8,000 crore and Rs 6000 crore respectively. The auction will be conducted on June 25, 2014 using ‘Multiple Price Auction’ method.
The Government of India announce the sale of Four dated securities for Rs 15,000 crore on June 27, 2014, including
(i) 8.27% Government Stock 2020 for a notified amount of Rs 3000 crore,
(ii) 8.83% Government Stock 2023 for a notified amount of Rs 7000 crore,
(iii) 8.32% Government Stock 2032 for a notified amount of Rs 2,000 crore and lastly,
(iv) 8.30% Government Stock 2042 for a notified amount of Rs 3000 crore.
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