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Fresh debt sale set to rattle Indian bonds as rate-hike jitters persist
MUMBAI: Indian government bonds are likely to face selling pressure ahead of fresh supply through the weekly auction on Friday, adding to prevailing caution over the local central bank’s interest-rate outlook. The benchmark 6.94% 2036 bond yield may trade between 7.38% and 7.42%, according to a trader at a primary dealership, after closing at 7.3921% in the previous session. Bond yields rise when prices fall. New Delhi will sell 340 billion rupees ($3.58 billion) of the benchmark paper later in the day, taking the total issuance size of the security to 2.38 trillion rupees. “Market is already ...
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