Indian government bond prices inched up in early trading on Thursday, mirroring a rise in U.S. Treasuries, although volumes were largely tepid as traders awaited fresh triggers.
The yield on the benchmark 10-year bond (IN063335G=CC) was at 6.3091% as of 10:30 a.m. IST, after closing at 6.3136% on Wednesday.
Bond yields move inversely to prices.
“We are keeping our positions light since there is no major directional trigger in the market right now,” a trader with a private bank said.
The 10-year note has been hovering between 6.28% and 6.32% since the start of the month, and the trend is likely to persist amid a lack of cues, traders said.
Clarity on a potential U.S.-India trade deal, which the U.S. President Donald Trump said was “close”, would be a key trigger for the market, traders added.
Focus was also on the liquidity levels in the market and on any further measures by the Reserve Bank of India to drain the excess…
