Indian bond traders will await a Rs 20,000 crore ($2.7b) sale of Treasury bills to gauge the direction of short-term rates. Rupee traders will watch for inflows with a large initial share sale due to open Thursday.
- USD/INR fell 0.2% to 74.9588 on Tuesday
- 10-year yields rose 1bp to 6.36%
- Global funds sell net Rs 2,370 crore of India stocks Tuesday: NSE
- They bought Rs 35 crore of sovereign bonds under limits available to foreign investors, and withdrew Rs 92 crore of corporate debt
- State-run banks bought Rs 1,260 crore of sovereign bonds on Oct. 26: CCIL data. Foreign banks sold Rs 894 crore of bonds.