Government bond yields are expected to fall from current levels in the near term, with the final auction of these for this financial year got over on Friday. The Street is also expecting inflation for January to soften and this is expected to add positive sentiment in the market.
The yield on the 10-year benchmark bond ended at 8.74 per cent on Friday, compared with Thursday’s close of 8.72 per cent. The Rs 10,000-crore auction on Friday went through smoothly, getting fully subscribed.
“With no more supply of bonds this financial year and with expectations that inflation will come down, bond yields might start trending down. Hopefully, we might see a 8.6 per cent yield level for the 8.83 per cent, 2023 government bond by the end of next week,” said N S Venkatesh, chief general manager and head of treasury at IDBI Bank and chairman of the Fixed Income Money Market and Derivatives Association of India.
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