RBI accepts 20 bps higher treasury bill cutoff yields than last auction
The 91-day cutoff yield came in at 5.93%, while the 182-day cutoff yield was at 6.54%.
Indian government bonds faced volatility as oil price hikes raised inflation concerns and affected market sentiment. The 6.94% 2036 bond yield fluctuated but ended slightly unchanged as traders reacted to market conditions. Elevated crude prices have increased worries about inflation, a wider fiscal deficit, and slower economic growth for India. The rupee weakened further against the dollar, prompting fears of aggressive policy tightening by the Reserve Bank of India.
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RBI accepts 20 bps higher treasury bill cutoff yields than last auction