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.