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Riding high on RBI governor's assurance, bond market up for a long bull run

Experts say LTRO is the Indian version of quantitative easing, and that there should be more of it in coming days

Anup Roy  |  Mumbai 

Ten-year bond yields have fallen 16 basis points (bps) since the Union Budget on February 1. And short-term bond yields such as three-year ones have fallen 25 bps since the Reserve Bank in its monetary policy on February 6 introduced long-term repo operations (LTROs) to give banks one and three year money at 5.15 per cent, against the prevailing market rate of nearly 6 per cent.

The bond market had earlier got a wind in its sail after the Budget showed there would be no additional borrowing. The bond yields fell nearly 10 bps in response. The southbound yields bore good news for both ...

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First Published: Sun, February 09 2020. 23:43 IST
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