Indian bonds steady as oil stabilizes and inflation data looms
In short
Indian government bonds were mostly flat today as oil prices steadied and investors waited for inflation data. A 290.5 billion rupee bond auction is scheduled later today.
Traders are watching the 10-year bond yield, which analysts see moving between 7.10% and 7.30%. India’s October inflation report on Thursday is also in focus.
What the reporting says
Indian government bonds moved little today as oil prices showed signs of stabilizing and investors waited for inflation readings from the US and India. A bond auction worth 290.5 billion rupees is scheduled later today, keeping the market cautious. Analysts said the 10-year bond yield could move between 7.10% and 7.30%, with focus on India’s October inflation report due Thursday.
Why it matters
Indian government bonds drifted with oil prices as markets waited for inflation data from the US and India. The report said a 290.5 billion rupee auction is due later today, and analysts are watching the 10-year yield range of 7.10% to 7.30%. Attention is centered on India’s October inflation report due Thursday, which could influence bond sentiment.