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Indian Bonds Slide as RBI’s Choice of Purchase Papers Disappoint

  • Yield on the benchmark 10-year bond rises nine basis points
  • Surging global oil prices also hurt demand for India’s debt
Updated on

Indian sovereign bonds slumped as the central bank’s choice of relatively illiquid papers for its bond-purchase program disappointed traders. Surging global oil prices also weighed on sentiment.

The yield on the 5.63% bond maturing in 2026 rose as much as 13 basis points to 5.89%, while the 6.64% 2035 bond yield climbed eight basis points. The benchmark 10-year yield advanced nine basis points to 6.18%, its biggest jump in nearly three months.