India 10 year Government Securities

Bond Yields in India have become sticky in case you did not notice. The Govt postponed its borrowing program to the second half and helped create wave 2 of 5 down last month and now we are in wave 3 up that could see Indian 10 year yields rise to 8.2% in the coming month. Wave 5 is extending and could eventually draw us closer to the 9% mark in the coming year. The point is we are developing a strong up trend in bond yields that is far from over. The impact of OMOs announced on Friday was short-lived and absorbed in a day.

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