 "RBI")
Yields on 10-year government bonds jumped 11 basis points on Monday, after the Reserve Bank of India (RBI) announced late on Friday its bond purchase plans from the secondary market.
The announcement came as a surprise for the market, as traders were expecting any such move to come only by August. But observers say it shows the RBI is keen on maintaining interest rate parity between the US yields and local yields, so that inflows remain unaffected.
The sharp rise in yields in the US led to a prompt response from the RBI, which announced open market operation (OMO) for sale of
