India 2018 Bond Yield Falls to 3-Month Low as Commodities Slide
By Anil Varma
"Sept. 10 (Bloomberg) -- India's 10-year government bonds gained for a second day, pushing yields to the lowest in almost three months, as falling commodity prices tempered concern that inflation will accelerate."
Benchmark notes rallied after crude oil in New York fell to the lowest since April. India imports almost three quarters of the oil it uses each year. The UBS Bloomberg Constant Maturity Commodity Index of 26 raw materials has declined 21 percent from a July peak.
"The yield on the 8.24 percent note due April 2018 fell 8 basis points to 8.31 percent as of 10:07 a.m. in Mumbai, according to the central bank's trading system. The price rose 0.53, or 53 paise per 100 rupee face amount, to 99.56. A basis point is 0.01 percentage point."
To contact the reporter on this story: Anil Varma in Mumbai at firstname.lastname@example.org.
"Last Updated: September 10, 2008 00:49 EDT"
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