Indian government bonds fell in early deals on Monday, mirroring a drop in U.S. Treasuries, with traders keeping an eye on the central and state governments’ borrowing plan for the second-half of the fiscal year.
The yield on the 10-year benchmark note was at 6.5028% as of 10:30 a.m. IST. It closed at 6.4885% on Friday.
“Higher U.S. yields and depreciating rupee may put pressure on bonds. Since its quarter-end, the volumes will also likely be muted,” a private-bank trader said.
India bonds dip tracking US peers; government debt plan in focus
Indian government bonds experienced a decline, mirroring the movement of U.S. Treasuries, as traders keenly await the central and state governments’ borrowing plans for the fiscal year’s second half. The anticipation of the government’s borrowing calendar release later this month is a key factor influencing market sentiment. Simultaneously, traders are closely monitoring the states’ quarterly…
