Indian bond yields seen easing on bets Fed hiking cycle ending
时间:2024-09-29 03:45:53 阅读(143)
Indian government bond yields are expected to track U.S peers lower early on Thursday on rising bets that the U.S. Federal Reserve‘s rate hike a day before was its last for this cycle. The benchmark 7.26% 2033 bond yield is likely to be in the 7.06%-7.11% range after ending the previous session at 7.0965%, a trader with a state-run bank said.
“The Fed could not have explicitly guided that its rate hiking cycle is done, but for all practical purposes, market thinks there will not be any more hikes,” the trader said. U.S. yields dipped on Wednesday after the Federal Reserve raised interest rates by a widely expected 25 basis points (bps) and indicated another increase, but the market was not convinced with it.
The U.S. rate futures market has placed the odds of another hike in September meeting are 21%, up from around 14% before latest Decision. Back home, focus would be on fresh supply of bonds on Friday, wherein New Delhi will aims to raise 330 billion rupees ($4.03 billion) through the sale of bonds, which includes 140 billion rupees of benchmark paper.
Meanwhile, Reserve Bank of India‘s policy decision by the second week of August could act as the next major directional trigger.
猜你喜欢
- SAT reverses Sebi action against auditors
- Rupee plunges below 79 per dollar to fresh record low; unabated FII outflows, high crude prices drag currency
- Rupee likely to remain sideways amid mixed cues, FII outflows; USDINR pair to trade in this range
- Nifty hovers around short-term average, faces stiff resistance; Bajaj Finserv, ITC, Tata Steel among top stocks to watch
- Rupee rises 9 paise to 82
- Rupee slips to fresh record low of 77
- S&P, Nasdaq ends lower as economic data fails to ease rate hike angst
- Russia’s 2024 BRICS Chairmanship- Priorities, Challenges, and Global Collaboration; Argentina decides to opt out
- Nifty ends last week flat, Sensex falls amid low risk appetite; underlying bearish trend emerges in stocks