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India bonds sink deeper on RBI commentary, inflation concerns
MUMBAI: Indian government bonds extended losses on Wednesday, driving the 10-year yield to its highest since March 2023, as hawkish remarks from the central bank chief and rising oil-led inflation concerns prompted tradersto further pare their positions. The benchmark 6.94% 2036 bond surged 3.5 basis points to 7.3999%, a more-than-three-year high. Sentiment soured after the Reserve Bank of India Governor Sanjay Malhotra said in a media interview on Tuesday that while the central bank does not generally use monetary policy to safeguard financial stability, the two cannot be fully separated. Sin...
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