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Indian bonds seen declining as Fed hike could pressure RBI to mirror move
MUMBAI: Indian government bonds are set to decline on Thursday, as the US Federal Reserve hiked interest rates for the first time since July 2023, which could pressure the domestic central bank to follow suit as it battles rising inflation. The benchmark 6.94% 2036 bond yield is expected to trade between 7.05% and 7.10%, according to a trader with a primary dealership, after ending lower at 7.0524% on Wednesday. “There are fewer reasons to believe that the Reserve Bank of India will not hike rates next month, and a test of levels seen earlier in the week is on the cards,” the trader said. US T...
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