India bonds rise after flat open as sharp drop in US yields spurs value buying
The Indian government bond market saw a positive turnaround as US Treasury yields declined, prompting significant value purchases. The benchmark 6.94% bond maturing in 2036 observed a yield of 7.3551% in morning trading. Concurrently, oil prices dipped, fueled by expectations of improved supply following lifted sanctions on Russia. With India's consumer inflation rising to 5.54%, the Reserve Bank of India may respond with tighter financial conditions amidst ongoing capital outflows.
Oil, foreign flows in focus for rupee; bond traders eye rate-hike bets
During the upcoming holiday week, analysts predict the Indian rupee will remain steady, with oil price trends and foreign capital flows playing essential roles. Impressively, the rupee rose by 2% last week, achieving its highest value since March at 94.96. The Reserve Bank of India is undertaking assorted measures aimed at strengthening the rupee while addressing inflation worries.
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