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5 years ago
MARKET EYE-India bond yields edge higher on rising food prices
August 21, 2012 / 8:37 AM / 5 years ago

MARKET EYE-India bond yields edge higher on rising food prices

* India's benchmark 10-year bond yield edges up
from earlier levels to 8.23 percent after consumer price
inflation data showed food prices rose in July.
* The 10-year yield is up from a session low of 8.21 percent but
slightly below its 8.24 percent close on Friday.
* Food prices accelerated to 11.53 percent in July from 10.71
percent in June, but overall consumer price inflation slowed
slightly to 9.86 percent. 
* Last week, wholesale inflation data reflected an unexpected
drop to a near three-year low of 6.87 percent. 
* Steady global oil prices help ease concerns on domestic
inflation, supporting bond prices. India imports nearly
two-thirds of its oil requirement. 

 (shamik.paul@thomsonreuters.com /
shamik.paul.reuters.com@reuters.net)

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