Mumbai The auction of benchmark 10-year paper, the first government security on sale this fiscal year, saw strong demand with the cut-off yield coming at 6.49%, in line with market levels, traders said. Falling US yields increased the appeal of Indian bonds, where yields of the 10-year benchmark closed at 6.46%, three basis points below its previous closing, CCIL data showed.
Markets have now fully priced in a 25-bps cut and a dovish commentary by the RBI on April 9, bond traders said. Yields of the 10-year US T-bill were trading at 3.92% on Friday, a day after the US announced reciprocal tariffs, against 4.05% the previous day. Market participants expect the new 10- year paper to be auctioned on May 2.
Markets have now fully priced in a 25-bps cut and a dovish commentary by the RBI on April 9, bond traders said. Yields of the 10-year US T-bill were trading at 3.92% on Friday, a day after the US announced reciprocal tariffs, against 4.05% the previous day. Market participants expect the new 10- year paper to be auctioned on May 2.
You may also like
Will lead nationwide movement against Waqf act until legislation repealed, says AIMPLB
Man, his brother held for killing wife over 'affair'; remains recovered from garbage after a year
Pegula sets up all-American Charleston final with Kenin
Jharkhand Police step up security for Ram Navami processions in Giridih
Teachers, govt employees in Tamil Nadu demand DA hike, appeal made to Chief Minister
