Bond yields and overnight indexed swap rates rose sharply after the federal government set its fiscal deficit target for 2012/13 at 5.1 percent of the gross domestic product in the annual budget on Friday.
At 12:20 p.m. (0650 GMT), the 10-year benchmark bond yield was at 8.42 percent, up 9 basis points (bps) from its level before the deficit estimate was released.
The benchmark five-year swap rate rose 6 bps to 7.61 percent, and the one-year rate rose 7 bps to 8.22 percent.
India's main share index and the rupee remained broadly unchanged.
News Bureau,
At 12:20 p.m. (0650 GMT), the 10-year benchmark bond yield was at 8.42 percent, up 9 basis points (bps) from its level before the deficit estimate was released.
The benchmark five-year swap rate rose 6 bps to 7.61 percent, and the one-year rate rose 7 bps to 8.22 percent.
India's main share index and the rupee remained broadly unchanged.
News Bureau,
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