Bond yields steady; activity remains muted

@ Rs. 92.50 b T-bill auction in focus

- BY WEALTH TRUST SECURITIES

The secondary bond market yesterday saw yields remaining anchored broadly around prevailing levels. Activity and transaction volumes were subdued as market participants stuck to the sidelines against the backdrop of the Treasury Bond Auction conducted yesterday. The auction outcome, left overall market dynamics largely unchanged, with trading confined to a few selected maturities.

The Treasury bond auction held yesterday with a total offered amount of Rs. 122.00 billion across two available maturities, went undersubscribed. The auctions raised only Rs. 71.06 billion or 58.24% in successful bids across both phases, despite total bids received exceeding the offered amount by 1.70 times. This marked the third consecutive bond auction to raise less than the offered amount. Maturity-wise the results were as follows: