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Bond market rally may continue for a few more months

Yield on 10-year gilt closed at 6.5% on Friday, about 14 basis points down from pre-policy level

Anup Roy  |  Mumbai 

The Reserve Bank of India's (RBI's) dovish language on inflation and a clear indication of a willingness to cut rates further, if inflation remain tamed, have swung the bond market into action. Bond yields have been rallying since the policy announcement on Wednesday and the market expects yields to drop further, albeit after intermittent corrections. The yield on the 10-year gilt closed at 6.5 per cent on Friday, about 14 basis points down from the pre-policy level. The bond market is now divided over whether a rate cut would come in the August policy or later. But, the ...

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