Bond yield spikes as RBI’s purchase disappoints
The Hindu
‘RBI was expected to buy more paper’
The benchmark 10-year bond yield elevated on Thursday to its highest level in a week as the outcome of the first tranche of the Reserve Bank of India’s bond-purchase programme disappointed traders while inflation concerns also weighed. The 10-year bond yield ended at 6.13%, its highest level since April 7, and 12 basis points higher than its previous close. The Reserve Bank purchased ₹250 billion worth of bonds under G-SAP or government securities acquisition programme, under which it has committed to buying ₹1 trillion worth government paper between April and June to aid the absorption of the Centre’s massive ₹12.06 trillion borrowing in FY22.
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