Karachi November 29 2022: The government raised PKR 26.68 billion through an auction of fixed-rate Pakistan Investment Bonds (PIBs) compared to a target of PKR 175 billion to avoid higher interest cost, as per data published by the State Bank of Pakistan (SBP).
Cut-off yields increased by 26 bps compared to the 12th October PIB Auction.
The Cut-off yield for 5 years increased by 26 basis points. The Cut-off for 5 years is now 13.3500 percent.
SBP increase the policy rate by 100 basis points to 16 percent on Friday after which the yields for 3 year, 5 year and 10 year bonds increased by 49 basis points, 35 basis points and 58 basis points to 14.71 percent, 13.64 percent and 13.51 percent on Tuesday, respectively.
Bids rejected for 3 years and 10 years PIB.
Investors did not bid for 15 years, 20 years, and 30 years.
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