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India 2023 Bonds Drop as Yields at Eight-Month Low Deter Buyers

India’s government bonds due 2023 snapped a four-day advance on speculation yields at an eight-month low deterred buyers.

The notes rallied last week, with the yield slumping 13 basis points to 8.51 percent, after the central bank said it could ease monetary policy should inflation slow more than anticipated. The Reserve Bank of India aims to curb consumer-price gains, which were 8.59 percent in April, to 8 percent by January 2015 and 6 percent a year later.