India's 10-year bond yield hits 7-yr high

Reuters
Posted: Friday, Jul 11, 2008 at 1150 hrs IST
Updated: Friday, Jul 11, 2008 at 1150 hrs IST

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Mumbai, July 11: : India's 10-year federal bond yield touched a fresh seven-year high on Friday, after inflation touched 11.89 per cent in late June.

It would be the highest rate since annual numbers in the current series became available in April 1995. The data is due around 11:30 a.m. (0600 GMT).

At 11:05 a.m., the 10-year bond yield was at 9.49 per cent, off an intraday peak of 9.52 per cent, its highest since September 2001. It ended at 9.43 per cent on Thursday.

The median forecast in a Reuters poll is for annual inflation to have risen to 11.75 per cent on June 28 from 11.63 per cent a week earlier.

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