12-month Treasury yields fall to 14-month low
KARACHI: The yield on the 12-month bond in the secondary market fell to a 14-month low, falling below 20% on Thursday in anticipation of a deeper cut in the central bank’s key policy rate (rate) in early June 2024. The one-year bond yield fell as much as 90 basis points or more in the secondary market after a similar situation was seen in the paper auction held in the primary market on Wednesday. Yields at Wednesday’s auction – held after a two-week gap – fell on expectations of a significant slowdown in inflation to 13-13.5% in May 2024, compared with


