Last Friday’s bond auction results (one, two) are:

New 10 year bond (6.9%) for 6,000 cr. : fully subscribed
6 year 2015 at 6.55% yield, 5000 cr.: fully subscribed
15 year 2024 bond, 7.45% yield, 2000 cr. : fully subscribed
25 year 2034 bond, 7.98…

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After weeks of full subscription to the 15,000 crore weekly bond issuances, last Friday’s bond sale was not fully subscribed. Around 900 cr. could not be sold, and devolved on the primary dealers. (That means, the primary dealers had to pay up because …

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