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PIB Bond Auction results

Unconfirmed reports indicate that the central bank picked up about 11 billion rupees in the Pakistan investment bond (PIB) auction this evening. Cutoffs for the 5 offered tenors were as under:

Tenor Cutoff yields
3 years 10.05%
5 years 10.25%
10 years 10.85%
15 years 11.75%
20 years 11.95%
30 years 12.11%

The benchmark 30 year bond finally broke the 12% barrier. The one real surprise was the widening spread between the 10 and 15 year bond. Go figure…

Update: Just picked up confirmation on Yahoo news, singapore