India bond yields seen lower after better-than-expected inflation data
时间:2024-06-26 09:32:14 阅读(143)
Indian government bond yields are expected to open lower on Monday after local inflation print came well below the Reserve Bank of India’s (RBI) upper tolerance limit for the second consecutive month.
The 10-year benchmark 7.26% 2033 bond yield is expected to be in the 6.96%-7.02% range, a trader with a primary dealership said, after closing at 6.9938% in the previous session.
“The optimism over CPI led to rally towards the end of Friday’s session and that may continue on Monday. The benchmark bond yield will, however, find strong support at 6.90% because RBI rate cuts are not in sight,” a dealer with state-run bank said.
The 10-year benchmark bond yield settled at the lowest closing level since April 7, 2022, on Friday.The RBI, in April, had surprised the market with a status quo on rates, against the market expectations of a 25-basis points hike.
“Even as the RBI has not changed it monetary policy stance and indicated that this is a “tactical pause”, we do not see any risk of another rate increase,” YES Bank economists said in a note.
“We do not also see a rate cut from the RBI soon. Effectively, we are calling for a long pause from the RBI.”
KEY INDICATORS: ** Brent crude futures down 0.5% at $73.78 per barrel after falling 1% in the previous session ** 10-year U.S. Treasury yield at 3.4588% and two-year note yield at 3.9851% **India aims to switch securities worth up to 200 billion rupees ($2.45 billion) ($1 = 81.7800 Indian rupees)
猜你喜欢
- Global markets- Stocks in debt ceiling danger zone after US rating warning
- Global Markets- Stocks, bonds rally as investors spy possible central bank ‘pivot’; pound
- Crude prices may see further selling pressure if cracks in banking system widen; do not recommend fresh short positions
- Gold Price Today, 16 August- MCX gold falls 0
- Cyclone Biparjoy is coming! Heavy rains lash Gujarat – See pics
- Cyient arm’s IPO to open for subscription on June 27
- Global Markets- Wall Street keeps stocks down, dollar up on inflation
- Coal India stock rating ‘Buy’- Increased demand, output to help, say brokerages; check share price targets
- Sebi extends relaxation till Dec on listed cos’ sending hard copies of annual reports to shareholders