Bonds yields rise as rate cut hopes fade further

......Traders had already started pricing in the prospect the Reserve Bank of India will fight inflation over boosting growth in its July 31 decision. However, those expectations were further cemented after Pronab Sen, principal adviser to India's Planning Commission, told newswire Dow Jones the RBI was likely to hold rates steady next week, adding the government needed to cut subsidies to improve confidence about its fiscal health. The RBI is independent of the government, and Sen does not have a direct influence on monetary policy, but the views nonetheless hit already fragile market sentiment........

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