HALISTER1: Change in RBI Stance Clearly Negative for Indian Bonds: Nomura

Change in RBI Stance Clearly Negative for Indian Bonds: Nomura

(Bloomberg) -- Markets are not positioned for a change in RBI’s stance to neutral, says Vivek Rajpal, Asia rates strategist at Nomura in Singapore.
  • Bond yields will trade in a new, higher range
    • Sees 6.45-6.75% as the new range as market adjusts to the idea that there is no chance of any further RBI rate cuts
  • Yield on 10-year bond rises 24 bps to 6.68%
  • Rupee pares gain to 0.1% to 67.3475 per USD
  • NOTE: India Signals End to Easing Cycle, Unexpectedly Holds Rates
  • NOTE: Indian Bonds Plunge as Policy Makers Signal End to Easing Cycle
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Vivek Rajpal (Nomura Holdings Inc)

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