An advance in Indian government bonds was restrained on Friday by traders paring bullish positions after a lower-than-expected surplus transfer from the Reserve Bank of India to the government brought fiscal concerns to the fore.
The benchmark 6.48% 2035 bond yield settled at 7.0917%, bouncing off the day's low of 7.0636%, but still 2.2 basis points below Thursday's close. The yield rose 3 bps on the week after sharp swings inrecent sessions. Bond prices move inversely to yields.
