India partially cancels shorter-duration debt auction as yields spike
India’s central bank partially canceled an auction of shorter-duration government securities to curb a further spike in bond yields, traders said.
India partially canceled an auction of shorter-duration government security as bond yields spiked, with market participants seeing the move as an early indication from Indian authorities on interest rates, traders said on Friday. The central bank moved to curb any further rise in bond yields by cancelling part of the shorter-duration sale.