If bond yields continue to climb, Nifty valuations will have to lower to maintain the gap
By Bharat Gautam
CLOSING BELL: Axis Bank, Kotak Bank, Maruti Suzuki, Power Grid, SBI Life, and ICICI Bank were the top winners on the benchmark indices, rising upwards of 0.5 per cent each
I do not see yields climbing as much as some predict, says Brandt
Oil prices jumped more than $3 on the day, pushing global benchmark Brent to above $111 a barrel as European Union nations considered joining the United States in a Russian oil embargo
Brent crude futures fell as much as $4 a barrel and European gas prices slipped to 115 euros per megawatt hour, some 100 euros below recent peaks
India's retail inflation is now over the upper limit of the Reserve Bank of India's tolerance band, accelerating to a seven-month high just above 6% in January
The BOJ said last week it would buy an unlimited amount of 10-year government bonds at 0.25% to prevent rising global yields from pushing up domestic borrowing costs too much
Budget 2022 has unnerved bond markets. The 10-year govt bond yields have risen nearly 3% in two days. What's behind the sharp upswing in yields, and what does it mean for equity investors?
Spot gold was down 0.3% at $1,816.22 per ounce by 13:56 ET. U.S. gold futures settled down 0.3% at $1,816.50
The rupee was at 74.61 to a dollar on November 13 - the beginning of Samvat. It ended at 74.46 to a dollar on Wednesday
The central bank also retained the GDP growth forecast at 9.5% for the on-going fiscal year and revised CPI inflation projection downward to 5.3% which also supported sentiment
The 10-year bond yield closed at 6.28 per cent, its highest level since April 17, 2020
This is a different strategy than what played out until last month, where the central bank seemed more focused on keeping the 10-year bond yields at 6%
This was after the RBI assured the market of ample liquidity and another round of secondary market purchase of Rs 35,000 crore
RBI purchased Rs 25,000 cr worth of bonds under G-SAP or government securities acquisition programme, under which it has committed to buying Rs 1 trn worth govt paper between April and June
The yellow metal lost sheen as investors shifted out of this safe-haven asset to more lucrative investment options, such as cyclical stocks
A bank placed a wrong price quote, which led to a negative yield as the paper was nearing maturity
Market sentiment tracked global shares, which were mixed as initial optimism over the US Senate's passing of a $1.9 trillion stimulus bill gave way to inflation fears
10-year government bond yield hardened to 6.23 per cent on Friday, up 0.05 per cent from 6.18 per cent on Thursday, February 25