By Khushi Malhotra
Indian government bonds inched lower in early deals on Monday, tracking a similar move in U.S. Treasuries, with traders remaining indifferent to a dip in the weekly state debt supply.
The yield on the benchmark 10-year note (IN063335G=CC) was at 6.5439% as of 10:30 a.m. IST, after closing at 6.5345% on Friday. It rose 2 basis points last week.
Bond yields rise when prices fall.
The 10-year U.S. Treasury yield rose for a third day to 4.0372% in Asian hours. It has risen over 8 basis points since last Wednesday.
Officials on Sunday hashed out the framework of a trade deal for U.S. President Donald Trump and Chinese President Xi Jinping to pause steeper American tariffs and China’s curbs on rare earths exports, U.S. officials said.
“Amid a lack of catalysts, the market will continue to track U.S. treasuries, with focus on U.S.-China trade deal,” a trader at a private bank said.
“Volumes are still shallow after the…
