India bonds rise as investors see value after 10-year yield nears 7.40%
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- ✓Indian government bonds moved higher on Tuesday as value investors bought in after yields neared 7.40%.
- ✓A state-run bank trader said, "Looking at the heavy purchases from local lenders, there is some confidence that the yield may not rise much." Investors now await heavy debt supply from the Reserve Bank.
Story at a Glance
- Category
- MARKET
- Reported By
- Economic Times
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
The Indian bond market experienced a surge as value investors jumped in, increasing demand significantly. After hitting a three-year peak, the benchmark 6.94% 2036 bond yield took a slight dip. Anticipation is mounting among investors for substantial debt issuance from the Reserve Bank of India and various states later this week.
Indian government bonds moved higher in early deals on Tuesday as value investors took the reins, after a near one-way upmove in yields in recent sessions, even as investors await heavy debt supply later in the day.
The benchmark 6.94% 2036 bond yield was at 7.3723% as of 10:15 a.m. IST, after ending at 7.3857% on Monday, which was its highest closing level in the last three years.
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Economic Times
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