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
