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Treasury gain party over for banks

As rate easing cycle comes to halt, so does the high surge that banks witnessed in their income

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Rate Cut

Sheetal Agarwal  |  Mumbai 

The Reserve Bank of India (RBI)’s rather hawkish stance while announcing the sixth bi-monthly monetary policy review has surprised investors in the equity and bond markets. In fact, yields on the 10-year government security (G-sec) surged 31 basis points to 6.74 per cent on Wednesday (highest single-day surge in nearly 40 months) and another 10 bps on Thursday.

RBI’s neutral stance indicates the rate-easing cycle is largely done with. This means that as against a sharp drop of over 100 bps in G-sec yields over the past year, bond yields are likely to remain a lot more ...

First Published: Thu, February 09 2017. 23:00 IST
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