India's long-end debt gains on RBI bond buy picks

India's ultra long-datedgovernment bonds gained on Monday after the central bank'ssurprise decision to buy the 25-year paper as part of itsupcoming debt purchase, the longest-tenor paper it has everincluded.The Reserve Bank of India will buy bonds worth up to ₹50,000 crores ) on Thursday, including a notematuring in 2050. It will buy a similar amount on December 18,with traders anticipating that ultra long-term bonds will bepart of that purchase as well.Why it’s importantIndia's ultra-long tenor bonds have ...