The yield on the 8.4 percent notes maturing July 2024 climbed 13 basis points in the five days through Aug. 1 as the nation auctioned the securities for a second time in as many weeks, increasing supply. The sale saw primary dealers pick up 29.64 billion rupees ($486 million), or about a third of the 2024 debt offered by the government.
The yield on the benchmark 10-year notes fell three basis points, or 0.03 percentage point, to 8.49 percent as of 9:56 a.m. in Mumbai, according to the central bank’s trading system. The rupee rose 0.3 percent today, snapping a two-day decline.
The Reserve Bank of India will probably keep its benchmark repurchase rate unchanged at 8 percent at a policy meeting tomorrow, according to 34 of 36 economists surveyed by Bloomberg. Two predict a 25 basis point cut.
One-year interest-rate swaps, derivative contracts used to guard against swings in funding costs, fell three basis points today to 8.36 percent, data compiled by Bloomberg show. They dropped four basis points last week.
No comments:
Post a Comment