India bonds dip before debt sale; state supply eyed
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Indian government bonds dipped as traders remained cautious ahead of a significant debt sale and a heavy state borrowing calendar. The benchmark 10-year yield rose to 6.6002% from 6.5818% the previous day. India plans to sell 320 billion rupees of the 10-year bond, while states are expected to announce a record quarterly borrowing of about 5 trillion rupees. The Reserve Bank of India is injecting liquidity through repo auctions and open market purchases. Rising U.S. Treasury yields are also impacting Indian bonds.
Source: Reuters The copyright of this article belongs to the original author/organization.
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