India Bond

'The law being a colonial legacy is not valid ground for its repeal'

Global issuances have crossed levels seen before the pandemic

India's benchmark 10-year bond yield ended at 6.75%, down 1 basis point from its previous close but yields on the week were up 9 basis points

Policy makers have spent months preparing to join global indexes, key benchmarks that increasingly determine how large asset managers allocate their capital

The benchmark 10-year yield will climb to 6.40% by December, while the five-year yield will increase to 5.90%

The RBI refrained from draining excess cash in its December review as it didn't see ample liquidity, which crashed short term rates, fueling inflation

Overseas funds have long sought greater access to Indian bonds, drawn to an economy where the yields are among Asia's highest

The bond market participants see the yields falling by another 15-20 basis points from the present level

The government is likely to borrow Rs 2.48 trillion ($34 bn) in the six months to March 31, or Rs 200 bn less than the budgeted estimate