India Cancels Benchmark Bond Sale in Yet Another Yield Signal
- RBI sold only 229.8 billion rupees of bonds, less than planned
- RBI is signaling it wants to keep yields capped: PNB Gilts
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The central bank didn’t accept any bids for the benchmark 10-year bond at the weekly auction, in another sign that authorities want to keep yields in a tight range.
The monetary authority got 276 bids worth 246.4 billion rupees ($3.4 billion), almost triple the amount the Reserve Bank of India had planned to sell of the 5.85%, 2030 notes. It sold 229.8 billion rupees of other bonds at the weekly sale, the central bank said in a statement. It had planned to auction 280 billion rupees of securities.