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Indian bonds sink as RBI plans ₹1 lakh crore sales to drain liquidity
Indian bonds declined after the central bank said it would sell sovereign notes to drain cash from lenders, adding to the supply of debt in a year when the market is already under pressure from record government borrowing. Yields on the 6.94 per cent bond due 2036 rose by 7 basis points to 7.09 per cent, while those on the 6.36 per cent note due 2031 climbed 16 basis points to 6.78 per cent, as domestic bonds joined a global sell-off. Indian markets were closed on Monday for a public Holiday. [...]