Bond yields rise ahead of borrowing numbers

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Bond yields rise ahead of borrowing numbers

The benchmark 10-year bond yield was up 4 basis points at 8.85 per cent.

Dealers say market jittery ahead of the new fiscal year borrowing numbers which Finance Minister P Chidambaram will unveil on Monday.

"Dealers are still sitting heavy. Cash is also tight, and the market is expecting the RBI to announce an OMO. If the gross borrowing number comes in above 6.3 trillion rupees, markets may sell-off," said a senior dealer.

Yields dropped to 8.76 percent in early trade after inflation dropped to a two-year low.

Overnight rate at 9.10/9.20 per cent, above the MSF rate, reflecting cash tightness.


Economics Times
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