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Bonds slump to 15-month low as auction cut-offs disappoint

A total of Rs 15,000 crore in bonds were auctioned on Friday by the RBI, which manages debt on behalf of the govt

Reuters  |  Mumbai 

Indian bonds slumped to a 15-month low on Friday after the Reserve Bank of India set higher-than-expected cut-off yields at the weekly debt auction, which traders saw as a sign the central bank was getting more comfortable with higher yields. The 10-year benchmark government bond yield rose to 7.09 per cent from the previous session's close at 7.05 per cent. It had risen to 7.11 per cent, highest since September 2, 2016, earlier in the day. The spike in yield came after the RBI set a cut-off of 7.41 per cent for the 6.57 per cent 2033 bond, higher than the 7.32 per cent ...

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First Published: Fri, December 08 2017. 21:59 IST