ENM: India's 10-yr yield down 2 bps after auction results
MUMBAI: India's benchmark 10-year bond yield fell 2 basis points after results of a 110-billion-rupee federal bond sale came in at yields lower than expected by the market.
At 2:55 p.m., the yield on the 10-year benchmark bond was at 7.58 per cent, down 2 basis points from where it was before the data. It had closed at 7.53 per cent on Thursday.
"Cut-offs are bullish, so market seeing some bit of a rally now," a dealer with an European Bank said.
