Bond turmoil on India’s cash drain shows market fragility1 min read . Updated: 18 Jan 2021, 11:28 AM IST
The RBI’s first 14-day reverse-repurchase operation since March saw rates on short-dated sovereign bonds rise as much as 33 basis points over the past week, while average yields on three-year BBB-rated corporate bonds climbed the most since 2018
The Reserve Bank of India’s first steps to revive money-market rates proved how fragile sentiment remains, as a spike in bond yields spurred policy makers to announce more buying to quell the turbulence and protect the economy’s nascent recovery.
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