India’s short-term government bonds rose on Friday, buoyed by the central bank’s monetary policy announcements, including a larger-than-expected 50 basis point rate cut, which were viewed as particularly supportive for the shorter end of the yield curve. In contrast, the more liquid long-term bonds remained largely muted. The yield on India’s benchmark 10-year government bond rose to 6.2200% around 1:25 pm on Friday, up from 6.1960% at Thursday’s close. The five-year 6.75% 2029 bond yield was at 5.8100%, after ending at 5.8514%. Bond yields were volatile after the RBI announcement.