Rupee Bond Traders to Assess Extra Borrowing Report

Indian bond traders will assess a report that the government plans to borrow more than Rs 30,000 crore ($4 billion) to repay the debt of Air India, a move that may raise annual bond sales. 

  • The decision to sell bonds to repay the residual debt of Air India may happen at an opportune time, the Economic Times reported, citing a senior official with knowledge of the matter
  • 10-year yields rose 5bps to 6.32% on Friday as higher oil prices and U.S. treasury yields added to concerns about the normalization of Reserve Bank of India’s monetary policy after it halted a key bond buying program on Friday
  • USD/INR rose 0.3% to 74.9938 on Friday.
  • Global funds sell net Rs 64.01 crore of India Stocks Friday: NSE
  • They sold Rs 884 crore of sovereign bonds under limits available to foreign investors, and added Rs 81crore of corporate debt
  • State-run banks bought Rs 7,840 crore of sovereign bonds on Oct. 8: CCIL data. Foreign banks sold Rs 3,310 crore of bonds.
Rupee Bond Traders to Assess Extra Borrowing Report via @goldsilverrepor
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