India's benchmark 10-year bond yield rose to its highest in 16 months on Thursday as traders began pricing in improved economic conditions, with higher US yields overnight also denting market sentiment.
At 9:07 a.m. (0337 GMT), the yield on the benchmark 10-year bond was at 7.82 per cent, which was its highest since Oct. 15, 2008. It had ended at 7.78 per cent on Wednesday. Industrial output data due on Friday is forecast to show annual growth of 12 percent in December, close to the 11.7 per cent rise in November.
Finance Minister Pranab Mukherjee on Wednesday forecast the economy would grow 7.75 per cent in 2009/10, faster than a government projection on Monday of 7.2 per cent.
Source: http://economictimes.indiatimes.com/markets/bonds/10-yr-bond-yield-hits-16-month-high/articleshow/5558946.cms
At 9:07 a.m. (0337 GMT), the yield on the benchmark 10-year bond was at 7.82 per cent, which was its highest since Oct. 15, 2008. It had ended at 7.78 per cent on Wednesday. Industrial output data due on Friday is forecast to show annual growth of 12 percent in December, close to the 11.7 per cent rise in November.
Finance Minister Pranab Mukherjee on Wednesday forecast the economy would grow 7.75 per cent in 2009/10, faster than a government projection on Monday of 7.2 per cent.
Source: http://economictimes.indiatimes.com/markets/bonds/10-yr-bond-yield-hits-16-month-high/articleshow/5558946.cms
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