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May 23, 2015
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RBI sets cut off yield for new 10-year bond
The Reserve Bank of India (RBI) on Friday set the cut off yield for the new 10-year bond at 7.72%, lower than the 7.88% close of the 10-year bond on Thursday.The RBI raised Rs.9,000 crore by selling the new benchmark bond on Friday. “The cut off is in line with what the market expected. It is normal for the yield to soften about 15 to 20 basis points (bps) when the new benchmark becomes effective because of the demand for that security.
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http://www.livemint.com
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