Secondary Bond market yields close higher; elevated rates trigger renewed buying

@ T-Bill rates hold steady at weekly auction @ Rupee depreciates

- By WEALTH TRusT SECURITIES

THE secondary Bond market last week saw yields initially move sharply higher in response to escalating geopolitical tensions in the Middle East.

The early spike reflected a knee-jerk risk reaction, however renewed buying interest at the elevated levels swiftly emerged, supporting a partial recovery. Overall activity and transaction volumes were seen at healthy but subdued levels as participants adopted a more cautious stance amid the ongoing geopolitical uncertainty. In conclusion, secondary Bond market two-way quotes were seen closing the week higher, despite renewed buying interest which kept a cap on rates and drove a partial recovery.

In terms of the Secondary Bond market trade summary: During the week, the 15.12.26 maturity traded at 8.30%, while the 15.01.27 maturity traded at 8.27%.

Moving into the 2028 tenors, the 15.01.28 maturity traded at 8.95%, while the 15.02.28 maturity traded at 9.00%. The 01.05.28 maturity traded at 9.12%, while the 01.07.28 maturity traded within the range of 9.13% to 9.15%. The 15.10.28 maturity traded at 9.20%.