India 10-yr yield scales 7.25%, foreign banks sell
Thursday,
18-Aug-2022
01:05 PM (IST)
India's 10-year benchmark bond yield rises further and climbs above the crucial 7.25% level amid heavy selling pressure, likely from some foreign banks. Benchmark 10-year bond yield is at 7.2513% at 0605 GMT, after rising to day's high of 7.2651%. It had dropped 11 bps yesterday to end at 7.1825%. Bond yields had dropped yesterday tracking fall in oil LCOc1 and as Goldman Sachs said it expects inclusion of Indian bonds in global indices in 2023. Traders said, any scope for index inclusion is still far away, and the benchmark 10-year yield will not stay below 7.20%-7.25% for long.
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