India's 10-year Bond Yield Poised For 5th Weekly Fall; Rupee Gains
India's 10-year Bond Yield Poised For 5th Weekly Fall; Rupee Gains
Sentiment for bonds was buoyed by the Reserve Bank of India's Rs 35,000 crore worth bond buy on Thursday, while a fall in U.S. Treasury yields also helped.
Updated: May 21, 2021 3:44 pm IST
Bond yields have dropped in each of the last five weeks and in eight out of the last 10
India's benchmark 10-year bond yield posted its fifth straight weekly fall, while the rupee rose sharply in late trade to its highest level since end March on dollar sales by foreign banks and an uptick in domestic shares. Sentiment for bonds was buoyed by the Reserve Bank of India's Rs 35,000 crore worth bond buy on Thursday, while a fall in U.S. Treasury yields also helped. India's benchmark 10-year bond yield closed up one basis point on the day at 5.98 per cent, but ended down one bp on week.