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Credit Market

22 Feb 2021

Spread between PSU tax free and taxable bond yields widen sharply - Weekly Credit Market Analysis

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PSU tax-free bonds of IRFC, PFC, and others have hardly seen any yield movement upwards even as the taxable bond yields of the same issuers have risen by 40bps to 60 bps over the last 2 months. Bond yields have risen in the market on worries of inflation and government borrowing and it is a matter of time before tax-free bonds see a spike in yields.

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Arjun Parthasarathy
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