The 10-year benchmark India bond yield is expected to be between 7.23% and 7.28%, after ending the previous session at 7.2571%, a trader with a state-run bank said. — Reuters
MUMBAI: Indian government bond yields are likely to trend lower this week as US yields and oil prices ease further, which may boost investor sentiment.
The 10-year benchmark India bond yield is expected to be between 7.23% and 7.28%, after ending the previous session at 7.2571%, a trader with a state-run bank said.
“There could be some buying as the 10-year US yield has broken the crucial 4.20% handle, but the major point of focus would be for how long would it sustain at these levels,” the trader said. “Even concerns from oil prices seem to be nearly over.”
US yields tumbled on Tuesday on concerns about slowing US economic growth after a report showed job openings hit a more than a two-and-a-half-year low in October, reaffirming expectations of a policy pivot in 2024.
The US Job Openings and Labour Turnover Survey, or JOLTS report, also showed there were 1.34 vacancies for every unemployed person in October, the lowest since August 2021 and down from 1.47 in September. — Reuters
