Halister News

(Bloomberg) -- India’s sovereign bonds decline as yields climb to their highest levels in almost three months on concern of larger debt supply coming into the market this week.

• RBI plans to sell up to 100b rupees ($1.6b) of bonds via OMO Tuesday
  • RBI will also sell 160b rupees of bills Wednesday, 180b rupees of bond sales scheduled Friday
• Higher supply of bonds is weighing on the market sentiment, says Anoop Verma, fixed-income trader at DCB Bank in Mumbai
  • Expects 10-year bond yield to be in a range of 6.40% to 6.60% in the coming weeks
• Yield on 6.79% bonds due May 2027 rises 2bps from Thursday to 6.56%, set for highest close since June 7; yield rose 3bps last week
• India’s financial markets were shut Friday for a local holiday
• Read: Patel may hold bond quotas as India faces impossible trinity

To contact the reporter on this story: Kartik Goyal in Mumbai at kgoyal@bloomberg.net To contact the editors responsible for this story: Tan Hwee Ann at hatan@bloomberg.net Patricia Lui