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Our Bureau

Mumbai, July 28

Yields in the bond market hardened on Friday in reaction to inflation-related comments made by the Finance Minister, Mr P. Chidambaram. The Minister is reported to have said that inflation was likely to go up further and measures would be taken to contain it.

Dealers said that sentiment was also bearish as a Government securities auction is slated for the first week of August. " The 7.59 per cent 10-year 2016 paper opened at Rs 95.79 (8.22 per cent YTM) and closed at Rs 95.61 (8.25 per cent YTM), down from Thursday's close at Rs 95.81 (8.22 per cent YTM). The 7.55 per cent five-year 2010 paper opened at Rs 99.62 (7.66 per cent YTM) and closed at Rs 99.53 (7.69 per cent YTM).

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