India bonds likely to start soft after weak auction bids; RBI debt buy may cap losses
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Indian government bonds may start the week lower due to weak auction bids, but the Reserve Bank of India's bond purchases could limit losses. The RBI plans to buy 500 billion rupees of bonds weekly until January 23, alongside a $10 billion dollar-rupee swap, to maintain banking system liquidity. The 10-year bond yield is expected to fluctuate between 6.54% and 6.59%. India's overnight index swap rates are struggling for direction amid low trading volumes.
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