Gold Silver Reports (GSR) – Money Market Heads Up! — Indian bonds are likely to trade in a range amid declining volumes with most investors awaiting the government’s record $93 billion borrowing program which will kick off early next month.
The benchmark 10-year bond yield closed three basis points higher on Wednesday at 7.69 percent. It has climbed 36 basis points so far this year amid concerns of quickening inflation, wider government budget deficit and lack of support from the state-run banks.
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Meanwhile, the rupee is expected to start weaker with riskier assets and currencies weakening in overnight trading. Incoming White House economic adviser Larry Kudlow signaled that President Donald Trump would support a strong dollar, which has had an impact on sentiment. Forwards suggest the rupee will open at 64.98 per dollar, up from 64.83 on Wednesday. – Neal Bhai Reports (NBR) INDIA