Bond yields rangebound, online trading platform glitch affects volume

Indian government bond trading was hit by a technical snag in the initial hour on Wednesday, impacting trading volumes and holding yields in a narrow band ahead of the release of the US Federal Reserve’s November meeting minutes.

The benchmark 10-year government bond yield was at 7.2809 per cent as of 0457 GMT, after closing at 7.2852 per cent on Tuesday.

There was an issue with the Clearing Corporation of India (CCIL), the online platform that provides clearing and settlement for transactions for securities. Most traders were unable to log in, a trader at a state-run bank said.