Indian bond yields spike as crude surges
The Hindu
Indian bond yields jumped on Tuesday as a rally in global crude oil prices raised worries about higher imported inflation, while a selection of papers for this week’s bond buy-back by the central bank
Indian bond yields jumped on Tuesday as a rally in global crude oil prices raised worries about higher imported inflation, while a selection of papers for this week’s bond buy-back by the central bank also disappointed investors. The most-traded 6.64%, 2035 bond was up 6 basis points at 6.79%, while the second-highest traded 5.63%, 2026 paper rose 7 bps to 5.83%. Both bonds were trading at levels last seen in mid-March. HDFC Bank said rising oil prices and lack of liquid papers in this week’s government securities acquisition programme was weighing on bond prices. India imports more than two-thirds of its oil needs.
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