Indian Government bonds opened sharply lower - ICICI Bank : Treasury Research

G-Sec: The Indian Government bonds opened sharply lower with the 10-year benchmark yield spiking to 8.49% vs. yesterday's close of 8.17% following the announcement of fresh measures by the RBI to curb systemic liquidity. The overall limit for access to LAF by each individual bank was set at 0.5% of its own NDTL outstanding as on the last Friday of the second preceding fortnight and banks are mandated to maintain a minimum daily cash reserve requirement balance of 99% of their average daily requirement for the fortnight, effective July 27th onwards. Meanwhile, FIMMDA has relaxed intraday trading bands for today's session. The yield on the benchmark 7.16% bond due 2023 is currently hovering at 8.44%.

Source : Equity Bulls

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