Triggering alarm: Reserve Bank of India's lack of support pushes up yields

The bond market is not in a mood to reason with the Reserve Bank of India (RBI) on keeping yields low. The 10-year bond yields continued to rise for the fourth straight session to close at 6.202 per cent from its previous close of 6.135 per cent.

The yield was at 6 per cent a week ago.

The RBI wants the yields to remain at 6 per cent, but bond dealers say the central bank will have to step up its bond-buying programme.

A section of the market also says the RBI should not hurry in normalising its liquidity operations because that is