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Bond yields dip to 4-year low

HT Correspondent, Hindustan Times  Mumbai, August 21, 2013
First Published: 21:09 IST(21/8/2013) | Last Updated: 21:11 IST(21/8/2013)

India’s government bonds rallied, pushing the 10-year yield down the most in four years, after the RBI said it would buy long-dated sovereign notes in a move to ease curbs on cash supply.

RBI will conduct open-market debt purchases of Rs. 8,000 crore on August 23 and thereafter calibrate them both in terms of quantum and frequency based on market conditions. The yield on the 7.16% government bonds due May 2023 slid 0.51 percentage points to 8.42%.

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