Wednesday, 3 October 2012

India Govt Bonds Likely Up; 10-Yr Yld Floor At 8.13%

India government bonds are likely to open higher, tracking three successive days of gains for U.S. Treasurys through Tuesday. A dealer with a private bond brokerage tips the benchmark 8.15% 2022 bond yield to open at 8.14%, vs 8.16% at Monday's close, and trade in a 8.13%-8.18% band through the session. Local markets were closed Tuesday for a public holiday. The dealer says while there's an absence of domestic cues, concerns over slowing global growth will support local bond prices in the near term. The next trigger for bonds is likely to be monthly inflation and manufacturing data, due next week, he adds. 

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