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Bonds fall most in a week on inflation fears

Bonds fall most in a week on inflation fears
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First Published: Wed, Dec 16 2009. 11 50 PM IST
Updated: Wed, Dec 16 2009. 11 50 PM IST
Mumbai: India’s 10-year bonds fell, pushing yields toward the highest level in more than a year, on speculation economic growth and accelerating inflation will prompt the central bank to increase interest rates. The notes dropped most in more than a week after a government report showed on 14 December wholesale prices rose 4.78% in November, the most in 10 months.
The yield on the 6.9% note due July 2019 rose eight basis points to 7.68% at close in Mumbai, according to the central bank’s trading system. The price fell 0.53, or 53 paise per Rs100 face amount, to 94.77.
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First Published: Wed, Dec 16 2009. 11 50 PM IST