India’s benchmark bonds declined on speculation investors will demand higher yields as the government increases debt sales. Yields on debt maturing in 2018 climbed before a scheduled debt auction today. The government plans to sell 60 billion rupees ($1.2 billion) of 10-year notes and 20 billion rupees of 30-year notes. India said this week that it will sell an additional 460 billion rupees of bonds between Feb. 20 and March 20 to fund stimulus spending. The yield on the 8.24 percent note due April 2018 rose 7 basis points to 6.14 percent as of 10:31 a.m. in Mumbai, according to the central bank’s trading system. The price fell 0.55 per 100-rupee face amount to 114.55.

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