Bonds snap four-day rising streak
Reuters: Mumbai, Feb 12 2013, 00:17 IST
Bonds fell on Monday, snapping four sessions of gains, following comments on high inflation by the central bank governor and after sources told Reuters the government would go ahead with the two debt auctions planned for the rest of the fiscal year.
India is unlikely to cancel any of remaining debt sales this fiscal year as the government wants to keep open all of its options to fund its fiscal deficit, two officials with direct knowledge of the situation said.
The benchmark 10-year bond yield closed 2 basis points (bps) higher at 7.86%. Yields have retreated 8 basis points since surging to a one-month high of 7.94% on February 4, following disappointment from RBI’s cautious statement.
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