RBI policy-led India bond rally continues; Friday's debt sale in focus
Indian government bonds saw a slight increase early Thursday, continuing Wednesday's strong rally. The Reserve Bank of India's dovish stance and falling oil prices supported this upward movement. Investors remain cautious, however, as New Delhi prepares for a significant bond auction on Friday. This auction will test market demand and the sustainability of the recent bond price gains.
ICICI Bank raised $1 billion through a five-year private dollar bond, while Union Bank of India secured $600 million in its first international dollar issue in over a decade, benefiting from RBI’s special swap window. UCO Bank also approved a $1 billion programme.
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