A road traffic sign stands in front of the Deutsche Bank AG headquarters in Frankfurt. (Photographer: Ralph Orlowski/Bloomberg)
High government borrowings and the expectation that a rare savings glut will reverse next year pushed up benchmark 10-year bond yields sharply in the days after the budget. Till the Reserve Bank of India stepped in to signal that it will conduct large-scale open market operations and hold the benchmark bond yield at near 6%.The central bank’s efforts worked with the 10-year bond yield now trading back at near 6.02%. This, despite a r...