By Anoop Agrawal Jan. 30 (Bloomberg) -- India's 10-year bonds<http://www.bloomberg.com/apps/quote?ticker=GIND10YR%3AIND> were set for their biggest monthly loss in at least a decade as concerns mounted that the government will borrow more than planned to finance additional spending.
Benchmark yields climbed to the highest level in three weeks on speculation investors sold to raise cash before a government debt auction today. Bonds ended a five-month rally after the central bank this week refrained from cutting interest rates and said the budget deficit will be "substantially higher" than estimates. The yield on the 8.24 percent note due April 2018 surged 91 basis points this month to 6.16 percent as of 9:46 a.m. in Mumbai, according to the central bank's trading system. The price fell 7.34 rupees per 100-rupee face amount, to 114.45. A basis point is 0.01 percentage point. The government plans to offer 40 billion rupees ($815 million) of a new 10-year security and 30 billion rupees each of the 7.56 percent bonds due 2014 and the 6.83 percent notes maturing in 2039 at an auction today. http://www.bloomberg.com/apps/news?pid=20601091&sid=aEXpQikmq7Jg&refer=india -- We reap what we sow. We are the makers of our own fate. None else has the blame, none has the praise. Swami Vivekananda --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
