Bond yields stuck in a range ahead of policy

Jan 23 2013, 02:15 IST
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SummaryBond yields seesawed in a tight band on Tuesday as investors cautiously rebalanced portfolios ahead of the central bank’s policy review next week with comments from the finance minister barely aiding sentiment.

Bond yields seesawed in a tight band on Tuesday as investors cautiously rebalanced portfolios ahead of the central bank’s policy review next week with comments from the finance minister barely aiding sentiment.

India’s economy will grow “no better than” 5.7 percent in the current fiscal year but will regain traction in 2013/2014, the finance minister said on Tuesday, as he sought to reassure international investors that the government remained committed to pro-growth policies and reforms.

The benchmark 10-year bond yield closed down 1 basis point (bp) at 7.85% after moving in a 7.83% to 7.87% band.

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