Indian bond yield falls to 1-yr low on govt borrowing hopes

Benchmark 10-year bond yield down 3 bps at 8.42
* Marks lowest level since Sept. 18, 2013.
* Hopes grow the government will cut borrowing for the second
half (H2) of 2014/15.
* The Economic Times quotes Finance Secretary Arvind Mayaram
saying borrowing could be cut depending on economic growth.

* Government to issue H2 borrowing calendar this week.
* The government is due to borrow 2.32 trillion rupees ($38.19
billion) in H2, as per its budget.
* But the number may increase to 2.48 trillion rupees including
the 160 billion cut in H1, which may be re-instated in H2 as
* Traders say hopes of another debt buyback also continuing to
aid bond prices.
(1 US dollar = 60.7500 Indian rupee)

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