Fixed Income And Currency Market

21 Jan 2018

Knee Jerk Reaction by RBI and Government Does More Harm Than Good for Bond Yields

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RBI is causing more confusion for markets at a time when there is extreme nervousness. The Central Bank rejected all bids for the 7.73% 2034 bond and the 7.06% 2046 bond in the government bond auction last week. RBI had first rejected bids for the long bonds in the auction on 5th January and then accepted all bids in the auction on 12th January at much higher levels of yields.

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Arjun Parthasarathy
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