India 10-Year Yield Falls to 6.82% as RBI Pushes Back on Rate Hike Talk
Updated
Updated · Bloomberg · Jun 24
India 10-Year Yield Falls to 6.82% as RBI Pushes Back on Rate Hike Talk
3 articles · Updated · Bloomberg · Jun 24
Summary
India’s benchmark 10-year bond yield fell 5 basis points to 6.82% on Wednesday, its lowest level since March 24, after the RBI governor said talk of a rate hike was premature.
Five-year overnight swaps dropped 10 basis points to 6.17%, showing the governor’s comments also pulled down market pricing for tighter monetary policy.
The rally in bonds and swaps reflects investors scaling back expectations that the Reserve Bank of India will move quickly toward policy tightening.