MUMBAI: Indian 10-year benchmark bond yield jumped on Wednesday a day as the Reserve Bank of India is due to sell an all-time high of 180 billion rupees ($3.5 billion) in debt next week.
The RBI announced on Tuesday it would borrow 3.7 trillion rupees ($72.98 billion) in bond sales in the April-September period, which was in line with expectations, but traders were surprised by the amount of bonds being sold next week.
At 9:05 a.m. (0335 GMT), the 10-year bond was at 8.58 percent, 8 basis points higher from Tuesday's close of 8.50 percent.
Next week, trading in bonds will be shut on Monday as banks close their account books for the 2011/12 financial year, and on Thursday and Friday for local holidays.
Comments
Comments are closed.