The yield on the new Benchmark 10-Year Bond was at 6.2124% as of 10:00 am IST, Compared with the Previous Close of 6.2107%. The 2034 bond yield was at 6.2553% after settling at 6.2520% on Friday.
Yields on these bonds rose to 6.2270% and 6.2812%, respectively, in opening deals.
Bond Yields Move Inversive to Pries.
The reserve bank of India’s board approved the transfer of 2.69 trillion Rupees ($ 31.6 billion) as surplus to the federal government for the fiscal year ended march, up from 2.11 trome 2.11 trome 2.11 trillion Rupees in the previous Year, it said on Friday.
Market Participants Had Expected The Amount to Cross 3 Trillion Rupees.
“The figure is lower than what market had wanted, but will not change the medium-term market view, which is guided by the Central Bank’s Liquidity Injection and Rate Cuts of at least 50 basis points more in theom Months, “a trader with a state-rn bank said.
All eyes on india gdp data
Investors Await India’s GDP Data on Friday, Followed by the Central Bank’s Policy Decision on June 6, where a Third Consective Rate cut is widely expected.
India’s Economy Likely Grew 6.7% in January – March, up from 6.2% in the Previous Quarter, According to a Reuters Poll.
The overnight index swap (OIS) Rates Cold Continue to see some receiveing interest on expectation of lower interest rates.
The one-yar ois rate was at 5.55%, while the two-yar ois rate was not yet tradeed.
The most liquid five-year Dipped 2 Basis Points to 5.65% After Rising 4 BPS on Friday.