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