BLBG: Indian 10-Year Bonds Gain as Investors Buy After Two-Day Slide
July 21 (Bloomberg) -- India’s 10-year bonds gained on speculation investors bought the securities after their biggest two-day slide in two weeks.
The yield on the most-traded 6.90 percent note due July 2019 declined three basis points to 6.89 percent as of 9:35 a.m. in Mumbai, according to the central bank’s trading system. The price rose 0.18, or 18 paise per 100-rupee face amount, to 100.05. A basis point is 0.01 percentage point.
The cost of five-year swaps, or derivative contracts used to guard against rate fluctuations, declined. The rate, a fixed payment made to receive floating rates, was at 6.30 percent, compared with 6.36 percent yesterday.
To contact the reporter on this story: Anoop Agrawal in Mumbai at aagrawal8@bloomberg.net.
