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India bonds little changed, debt auction cutoff to guide
MUMBAI: Indian government bonds traded steady in early deals on Friday, as traders remained focused on cutoffs on fresh debt supply, for near-term directional cues. The benchmark 6.94% 2036 bond yield was at 7.0497% as of 10:30 a.m. IST, after closing at 7.0463% in the previous session. New Delhi will raise 280 billion rupees ($2.92 billion) through a bond sale later in the day, including the liquid 15-year paper. “ (The) market is in a bearish mode, and even if auction demand is decent, the yield may not ease below 7.02%-7.03% range,“ a trader with a primary dealership said. Sentiment has tur...
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