Bonds at three-month high on report govt may borrow less

Last Updated: Tuesday, January 21, 2014 - 09:57

Mumbai: Government bonds rose to new three-month highs on Tuesday on a report quoting an unnamed finance ministry official as saying that the fiscal year borrowing may be less than earlier budgeted if fiscal deficit is kept in check.

A leading English dailty reported that a large chunk of the remaining 400 billion rupees of bond sale may be cancelled due to a pickup in small savings.

The benchmark 10-year bond yield fell 5 bps to 8.47 percent, its lowest since October 11.

First Published: Tuesday, January 21, 2014 - 09:57

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