The benchmark bond yield shot up eight basis points amid swirling speculation in the debt market over RBI’s future policy action.
The sovereign bond yield Monday surged to 6.88%, the highest level in the past five weeks. It has jumped about 40 basis point since the end of July.
The Reserve Bank of India deputy governor Viral Acharya is believed to have met a group of institutional investors and money managers in Mumbai as Deutsche Bank has facilitated such gathering.