BackIndian bond yields up ahead of fresh borrowing
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24 Sep 2008, 09:37 AM IST
Indian bond yields up ahead of fresh borrowing
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Mumbai: Indian federal bond yields rose Wednesday, 24 September, after the government announced a surprise sale of Rs10,000 crore ($2.2 billion) of bonds, which is expected to tighten cash conditions in the banking system further.
After the markets shut on Tuesday, the government said it would sell Rs6,000 crore of 7.94% 2021 bonds and Rs4,000 crore of 8.28% 2032 bonds on Friday.
At 9:08am, the 10-year benchmark bond yield was at 8.58%, higher than Tuesday’s close of 8.44%.
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Published: 24 Sep 2008, 09:37 AM IST
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