Reserve Bank Of India (RBI) Rejection Of 10-Year Bond Bids Fuels Late Rally
Benchmark yields rose 12 bps in a surprising development on Thursday India's benchmark 10-year bond yield eased on Friday due to a late short-covering rally triggered by the Reserve Bank of India's decision to not sell any of the 10-year paper on offer at the weekly government bonds auction. The benchmark 10-year bond yield closed at 6.08 per cent, down 5 basis points on the day after earlier rising to 6.18 per cent, its highest since April 7. Benchmark yields rose 12 bps in a surprising development on Thursday even as the RBI bought 250 billion rupees ($3.36 billion) worth of bonds in the fi...