The cut-off yields on the fixed-rate Pakistan Investment Bonds (PIBs) were up by 3-27 basis points (bps) in the auction of the paper on Thursday.
According to the data released by the State Bank of Pakistan (SBP), the government raised Rs. 145 billion against a target of Rs. 150 billion.
The yield on three-year PIBs went up by 3bps to 14 percent, the SBP’s PIBs auction result showed. The yield on five-year paper soared by 27 bps to 13.45 percent.
The government raised Rs. 13 billion against a targeted amount of Rs. 50 billion for the three-year paper. Against the five-year paper, the government raised Rs. 132 billion against a target of Rs. 50 billion.
The government rejected all the bids received for the 10-year and 15-year papers. The 20-year and 30-year papers did not attract any bids.
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