Bonds Gain in India After RBI Brings Back Fed-Style ‘Operation Twist’
- A road map for open market operations is necessary: DBS Bank
- We don’t know if this is one-off measure: ICICI Securities PD
Photographer: Scott Eells/Bloomberg
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India’s sovereign bonds climbed after the central bank said it will resume its Federal Reserve-style Operation Twist to cool longer-end yields, but uncertainties on the frequency of such support measures limited further gains.
The yield on the most traded 6.45% 2029 bond fell two basis points to 5.99%, while that on the 5.79% 2030 bond also declined two basis points to 5.89%.