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Indian government bonds slip on fiscal slippage concerns
Indian government bonds slipped on Friday, with the 10-year yield climbing to 6.54%—near this week's high.
This jump signals investors are uneasy about concerns about fiscal slippage and recent tax reforms.
PM Modi's GST changes raise questions about future revenues
The government is auctioning ₹360 billion in bonds this week, adding to a growing debt pile now at ₹1.8 trillion.
Concerns have picked up after PM Modi announced GST changes that simplify tax rates but raise questions about future revenues.
Traders expect lukewarm demand for new bonds
Traders expect lukewarm demand for these new bonds, though some may bite at current yields.
Everyone's watching not just India's moves but also US Fed Chair Jerome Powell's speech for hints on global interest rates—so it's a tense moment for anyone tracking money matters.