Bond Yields Surprise: Auction Brings the Heat, Believe It!

Believe it! On Tuesday, government bond yields took a chill pill after a super surprise at the state bonds auction! While the short maturities were a bit higher, the long end brought smiles all around. The 10-year bond yield is now at 6.61 percent, down from 6.64 percent. States are gearing up to borrow Rs 4.99 trillion this quarter, a little more than last year, but no worries!