The State Bank conducted an auction on Oct 07, 2015 in which it sold bonds worth 94 Bn against a pre-auction target of 50 bn. This was the first auction since the policy rate cut and yields were marginally lower compared to the previous auction of Sept 09, 2015.
The highest concentration of bids was for the 5Y Bond, followed by the 3Y and 10Y bonds while the 20Y Bond received no bids.
Below is the summary of the auction
| Tenor | Bid Amount | % of Total Bids | Amount Accepted | % of Total Accepted | Cut Off Yield |
|---|---|---|---|---|---|
| 3Y | 88,572.00 | 44.93% | 39,982.00 | 42.50% | 7.1967 |
| 5Y | 103,075.00 | 52.29% | 53,600.00 | 56.97% | 8.1805 |
| 10Y | 5,492.80 | 2.79% | 500 | 0.53% | 9.2299 |
| 20Y | 0 | ||||
| Total | 197,139.80 | 94,082.00 |
*Bid & Accepted Face Value in Millions
Cut Off Yields Fall
Yield Comparison to Previous Auction
| Tenor | Oct 07, 2015 | Sep 09, 2015 | Change |
|---|---|---|---|
| 3Y | 7.1967 | 7.3536 | -0.1569 |
| 5Y | 8.1805 | 8.3338 | -0.1533 |
| 10Y | 9.2299 | 9.3406 | -0.1107 |
| 20Y | – | – | – |
The 20Y Bond has not received any bids in the last 9 Auctions.
The Next PIB Auction is scheduled for Nov, 18 2015
Posted on: 2015-10-07T19:30:00+05:00
