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India bonds brace for selloff as RBI sales add to oil pain
MUMBAI: Indian government bonds were set for a sharp selloff on Tuesday as traders returned from a long weekend to a hostile mix of surging oil prices, rising US Treasury yields and the Reserve Bank of India’s planned bond sales to drain excess liquidity. The benchmark 6.94% 2036 bond may trade in a 7.01%-7.05% range, a private-bank trader said. It closed at 7.0233% on Friday, up 6 basis points for the week. Markets were closed on Monday for a local holiday. Brent crude neared $110 per barrel as the Gulf war widened, stoking inflation fears and rattling global debt markets. The US 10-year Trea...
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