Bond Yields Spike After Report Of Farm Loan Waiver Package
Bond yields jumped 10 basis points in late afternoon trade on Friday after Reuters reported that the government was considering three options for a farm relief package that could cost up to 3 lakh crore ($42.82 billion).
Prime Minister Narendra Modi is considering a direct payment to all landowning farmers, compensation for those who sold produce below government prices, and a loan forgiveness programme, according to three government sources.
The benchmark 10-year bond yield ended at 7.39 per cent, up 11 basis points on the day and 1 basis point below the day's high which was reached after the farm loan package news.
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