India Bonds Gain Most This Year as RBI Signals End of Rate Rise
This article is for subscribers only.
India’s 10-year bonds rallied the most this year as the central bank raised its repurchase rate by 25 basis points to 8.50 percent, as forecast by 18 of 28 economists surveyed by Bloomberg News.
Yields on the most-traded security due 2021 fell to the lowest level in more than two weeks. The Reserve Bank of India, which boosted borrowing costs today for the 13th time since the start of 2010, said monetary tightening may not continue beyond December. One-year interest-rate swaps slid the most this month as traders pared bets for rate increases.