Indian bond yields seen steady before $3 bln debt buyback
By Dharamraj Dhutia
MUMBAI, Oct 17 (Reuters) -Indian government bond yields are expected to be little changed in early trading on Thursday ahead of the government's buyback of bonds, while market participants will also await stronger directional triggers.
The benchmark 10-year bond yield IN071034G=CC is likely to move between 6.76% and 6.80%, compared with its previous close of 6.7722%, a trader with a private bank said.
"Today's buyback should also see healthy offers as most of the securities are in the money, but I doubt that would provide any major directional push," the trader said.
The central government will buyback bonds maturing in the next fiscal year, worth up to 250 billion rupees ($2.98 billion) later in the day. This would be its second such operation in two weeks.
Last week the government had repurchased bondsworth around 244 billion rupees in a similar auction. Earlier this financial year, the country had bought back bonds worth about 302 billion rupees.
Traders point to the government's strong cash positions resulting in early redemption of bonds, which is also helping the banking system liquidity surplus, especially beneficial as the busy second half has started.
Traders also await fresh supply as New Delhi is scheduled to raise 330 billion rupees through the sale of bonds on Friday.
Meanwhile, the benchmark Brent crude continued to remain below $75 per barrel, while the 10-year U.S. yield stayed marginally above the 4% mark.
India is one of the largest oil importers and easing prices of crude could reduce inflationary pressures. The retail inflation accelerated to a nine-month high of 5.49% in September due to higher food prices, up from 3.65% in August.
The jump in retail inflation prompted several economists to push back interest rate cut bets to the first half of 2025 from early December, with some citing growth as a bigger factor that could determine the timing of a rate reduction.
KEY INDICATORS:
** Brent crude futures LCOc1 up 0.8% at $74.80 per barrel, after being little changed in the previous session
** Ten-year U.S. Treasury yield US10YT=RR at 4.0317%, two-year yield US2YT=RR at 3.9481%
** RBI to conduct bond buyback of up to 250 billion rupees
($1 = 84.0140 Indian rupees)
Reporting by Dharamraj Dhutia
Editing by Eileen Soreng
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
