India's 10-year yield spikes as RBI bond-purchase results disappoint

The benchmark 10-year bond yield elevated on Thursday to its highest level in a week as the outcome of the first tranche of the Reserve Bank of India's bond-purchase programme disappointed traders while inflation concerns also weighed.
RBI purchased Rs 25,000 crore ($3.33 billion) worth of bonds under G-SAP or government securities acquisition programme, under which it has committed to buying Rs 1 trillion worth government paper between April and June to aid the absorption of the centre's massive Rs 12.06 trillion borrowing in 2021/22.