Benchmark 1-year yield makes about-turn at another outsize auction

The benchmark one-year bill reversed course and added back 10 basis points at the weekly primary bill auction held yesterday.
The one-year bill settled at 12.93 percent yesterday, giving up the decline in the yields, which occurred in the last few auctions. 
The Central Bank offered to raise a total of Rs.172.5 billion spread between three, six and 12-month bills—Rs.60.0 billion, Rs.57.5 billion and Rs.55.0 billion each. 
But it accepted only Rs.156.16 billion in total, raising Rs.75.11 billion, Rs.73.25 billion and Rs.7.79 billion, respectively, under the three tenures. 
During the last two auctions held in December, the Central Bank raised Rs.216 billion and Rs.185 billion each.

The benchmark one-year bill reversed course and added back 10 basis points at the weekly primary bill auction held yesterday.
The one-year bill settled at 12.93 percent yesterday, giving up the decline in the yields, which occurred in the last few auctions. 
The Central Bank offered to raise a total of Rs.172.5 billion spread between three, six and 12-month bills—Rs.60.0 billion, Rs.57.5 billion and Rs.55.0 billion each. 
But it accepted only Rs.156.16 billion in total, raising Rs.75.11 billion, Rs.73.25 billion and Rs.7.79 billion, respectively, under the three tenures. 
During the last two auctions held in December, the Central Bank raised Rs.216 billion and Rs.185 billion each.