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India's 10-year bond yield at over 13-month high as inflation disappoints

Reuters  |  MUMBAI 

MUMBAI (Reuters) - India's benchmark 10-year bond yield rose to its highest in over 13 months as higher-than-expected October inflation dashed rate cut expectations.The 10-year bond yield went up as high as 7.01 percent, the highest since Sept. 29, 2016, after October inflation rose to 3.58 percent as food and fuel prices accelerated. The paper had closed at 6.97 percent on Monday.Traders expect yields to rise further as state-run banks, the usual buyers in the secondary market, sit on heavy losses."We keep saying that state-run banks will come and buy, but are they mad, can't they see the ...

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First Published: Tue, November 14 2017. 11:04 IST