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India bonds extend weekly slide; struggle to shake off RBI hike, hawkish stance shift
MUMBAI: Indian government bonds fell for an eighth straight week as elevated oil prices and a hawkish shift by the central bank dampened investor appetite, pushing the benchmark 10-year yield higher. The benchmark 6.94% 2036 bond ended at 7.2994% on Friday, up from 7.2868% on Thursday. The yield rose 9 basis points this week, adding to a cumulative 45-basis-point rise over the previous seven weeks since August 17. The Reserve Bank of India raised its repo rate by 25 basis points to 5.50% this week and shifted its policy stance to “calibrated tightening” from neutral, signalling the possibility...
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