Yields up for 3rd day; RBI chiefs comments hurt

Written by Reuters | Mumbai | Updated: May 31 2013, 06:10am hrs
Government bond yields spiked in late trading on Thursday, rising for a third session to a two-week high, after the RBI governor said retail inflation remained high, denting growing expectations of a rate cut in June.

The old benchmark 10-year bond closed 5 basis points higher at 7.44%. It rose to 7.45% earlier in the session, its highest since May 16. The 7.16% 2023 bond, which will be reissued in Fridays auction, closed up 3 basis points at 7.19%.