India Partially Cancels Debt Sale to Curb Bond Yields
The Reserve Bank of India partially canceled a shorter duration government bond auction to curb rising yields. The central bank accepted bids worth only forty-five billion rupees, signaling resistance against aggressive market rate expectations.
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India partially canceled a government debt auction for the first time in nearly a year on Friday morning, accepting bids worth 45.06 billion rupees ($471.12 million). The move follows a surge in bond yields driven by shifting monetary expectations.
