From The Economic Times · Reuters · · 1m
Indian bonds hang tight ahead of supply
Indian government bonds stay steady as 340 billion rupee auction tests market.
In brief
Indian government bonds stay steady as 340 billion rupee auction tests market. Indian government bonds held steady ahead of a 340 billion rupee ($3.58 billion) 10-year debt auction, with yields at 7.3895% as central bank focuses on currency stability. Originally reported by The Economic Times.
Indian government bonds
Indian government bonds were pinned in a narrow range on Friday.
10-year bond yield
The benchmark 6.94% 2036 bond yield was at 7.3895% at noon.
340 billion rupee auction
New Delhi's 340 billion rupee ($3.58 billion) sale of the 10-year paper will test demand.
Market concerns
Bonds Corner: concerns have intensified since central and state borrowing calendars tilted toward longer-dated issuance.
RBI policy outlook
Traders are recalibrating for the Reserve Bank of India's rupee defence, which could involve tolerating higher domestic yields.
RBI rate hike expectations
Above-target inflation and the rupee's roughly 6% decline this year have stoked bets on a larger December rate hike.
What matters most
Indian government bonds held steady ahead of a 340 billion rupee ($3.58 billion) 10-year debt auction, with yields at 7.3895% as central bank focuses on currency stability.
