10-yr bond yields at 39-month low as markets brace for RBI action

India’s 10-year bond yield fell 12 basis points (bps) on domestic rate cut hopes as global central banks lowered their key rates to stave off an economic slowdown caused by the coronavirus outbreak.
 
Reserve Bank of India (RBI) Governor Shaktikanta Das told Bloomberg in an interview on Tuesday that the central bank was ready to do whatever was needed to address a slowdown.
 
“We’re ready for a response should the situation warrant,” Das said in the interview. “And going forward, in the near future, I do expect some discussion through video conference or telephone conference among the central