MUMBAI: An element of bullishness is driving investors in bond market these days. "Many investors now anticipate another 50-75 basis points rate cuts against just 25 bps expected earlier," said a dealer from a large bond house. "Post Brexit, risk sentiment leading to a rally in global bond market and expectations of dovish stance by the new RBI governor has triggered the recent bond rally," said Debashis Mitra, dealer, fixed income and money market , at SBI DFHI primary dealership. One basis point is one hundredth of a percentage point.In the past one month, the benchmark yield dipped 24 basis points with surging prices. The government is yet to announce the name of Rajan's successor.

Source: Economic Times July 13, 2016 20:09 UTC