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India bonds may weaken mildly after RBI hike; 10-year yield seen near 7.25%
MUMBAI: Indian government bonds may continue to weaken in early deals on Thursday, a day after the central bank raised interest rates for the first time in nearly four years and shifted its stance to suggest that more hikes were likely. The benchmark 6.94% 2036 bond yield may trade in a 7.21%-7.25% band, a trader with a primary dealership said, after ending at 7.2410% on Wednesday. Bond yields rise when prices fall. “Unless there is a fresh open market sale announcement, the 10-year benchmark should hold around 7.25% level,” the trader said. The Reserve Bank of India raised its key interest ra...
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