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Our Bureau

Mumbai, May 3

The bond market was bearish due to the hardening of the US yields and global crude oil prices. "High oil prices and the hardening of the US yield to 5.13 per cent caused bond prices to fall. The RBI governor's statement on Wednesday about the pass through effects of oil prices being seen very soon also had an impact,'' said a dealer at a private bank. Dealers also said that with the market stabilisation scheme being reintroduced, the liquidity in the system would once again be sucked out.The 7.40 per cent - 6 year-2012 paper opened at Rs 101 (7.21 per cent) and closed at Rs 100.99 (7.19 per cent YTM). The benchmark 7.59 per cent - 10 year-2016 paper opened at Rs 100.70 (7.49 per cent YTM) and closed at Rs 100.66 (7.49 per cent YTM).

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