10-yr bonds post biggest weekly advance

The 10-year government bonds completed their biggest weekly gain in three months after the Reserve Bank of India (RBI) cut interest rates by more than estimated and allowed foreigners greater access to local debt. The yield on the notes due May 2025 slumped 15 basis points this week and rose two basis points Thursday to 7.56 per cent in Mumbai, prices from RBI's trading system show. That's the biggest decline in the securities since the week ended June 19.