Indian government bond yields remained flat on Friday following a debt auction, but recorded a slight dip for the week due to a decline in US peers. The 7.26% 2033 bond yield ended at 6.9823%, representing a fall of three basis points for the week, while the benchmark 10-year US yield was 21 basis points lower during the same period. During the debt auction, New Delhi raised INR330bn ($4.04bn), including INR140bn of the benchmark paper, at cutoffs in line with market expectations. Attention is now turning to the Reserve Bank of India’s monetary policy due 8 June, with economists polled by Reuters saying they expect no change to the 6.50% repo rate.
India Bond Yields Remain Steady, Slightly Down for the Week Amid Tracking of US Peers
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