India’s Bonds Decline as Yields at 31-Month Low Deter Investors
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India’s bonds fell on speculation yields at the lowest level in 31-months will deter buyers.
The yield on the benchmark note due 2022 rose before Finance Minister Palaniappan Chidambaram unveils the budget on this week for the year beginning April 1. The rate dropped earlier after the central bank announced that it will purchase as much as 100 billion rupees ($1.9 billion) of government securities due in 2014, 2016, 2022 and 2025 on March 1.