10-year benchmark bond falls; auction details dent sentiment

The 10-year benchmark 5.85%, 2030 bond fell today because the supply of the paper is set to increase beyond expected lines, which encouraged traders to bet against the paper, dealers. On Monday, the Reserve Bank of India released the details of the 310-bln-rupee auction, which showed that the Centre was now scheduled to borrow an additional 10 bln rupees each through two-year, five-year and 10-year papers, than what it had given in the revised calendar on Feb 1. .