HALISTER1: India Bond Yields Spike Without Fundamental Support: StanChart

India Bond Yields Spike Without Fundamental Support: StanChart

(Bloomberg) -- Whether India government bond yields extend today’s sudden move higher will depend on evolution of the geopolitical situation, Nagaraj Kulkarni, senior rates strategist at Standard Chartered says in an interview.
  • No fundamental reason for rates to increase, he says
  • Yield on 7.83% govt note due April 2018 jumps 11 bps to 6.78% while yield on 6.97% bond due Sept. 2026 surges 11 bps to 6.88%
  • NOTE: India said it attacked terrorist camps in Pakistan late on Wednesday as Prime Minister Narendra Modi retaliated for a deadly strike against Indian soldiers earlier this month
  • RBI said to have sold dollars to stem rupee’s drop, traders say
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Source: BFW (Bloomberg First Word)

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Nagaraj Kulkarni (Standard Chartered PLC)
Narendra Modi (Republic of India)

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