The Indian bond markets has a godfather in RBI for now..

Aparna Iyer of Mint in this piece:

Exit polls may not have enthused bond traders like their peers in equity and forex markets. Yields are down just six basis points this week. However, bond investors should remember that the biggest buyer, the Reserve Bank of India (RBI), is still around.

After having to binge on bonds in FY19, RBI has bought another 25,000 crore worth of bonds so far this month. That is more than a quarter of the scheduled supply from the government for the month. The central bank has also cut its policy rate by a cumulative 50 basis points since January and infused more liquidity through forex swaps.

Hmm…

This is not a good thing. Hope markets move on their own..

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