'Operation Twist': India emerges as Aisa's top performer in long-tenor debt

10:30:00 AM, Saturday 21st of December 2019 | in business

The Reserve Bank of India said it will buy 100 billion rupees ($1.4 billion) of longer-tenor bonds while selling shorter debt in a move reminiscent of the U.S. Federal Reserve’s Operation Twist. The yield on the 2029 debt fell as much as 16 basis points to 6.59%, the most in more than two months, making it Asia’s top performer. It is being seen as a way to pass on more of the central bank’s five rate reductions to businesses.