Bond yields were treading water after IMF slashed India's growth forecast to 4.9% this year, down from a forecast in July of 6.1 percent, and said that central bank should keep rates on hold unless inflation experiences a sustained fall.
On the global front, US 10-year Treasuries rose in Asian trade on Tuesday as a lack lustre performance by equities in the past couple of sessions helped ease selling pressure that had been triggered by a surprise drop in the US jobless rate. US bond markets were closed on Monday for a holiday.
Meanwhile, Brent crude futures rose towards $113 a barrel on Tuesday after two days of losses, with supply fears due to escalating tensions in the Middle East prevailing over a sluggish outlook for global demand
The yields on 10-year benchmark 8.79% - 2021 were trading flat at its previous close of 8.15%.
The benchmark five-year interest rates too were trading flat at its previous close of 6.97%.
The Reserve Bank of India has announced the auction of 91-day and 182-day Government of India Treasury Bills for notified amount of Rs 5,000 crore each respectively. The auction will be conducted on October 10, 2012 using 'Multiple Price Auction' method.
The Government of India have announced the sale (re-issue) of three dated securities for Rs 13,000 crore on October 12, 2012, which includes (i) 8.07 percent Government Stock 2017-JULY for a notified amount of Rs 3,000 crore (nominal) through price based auction; (ii) 8.15 percent Government Stock 2022 for a notified amount of Rs 7,000 crore (nominal) through price based auction; and (iii) 8.97 percent Government Stock 2030 for a notified amount of Rs 3,000 crore (nominal) through price based auction. The auctions will be conducted using uniform price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on October 12, 2012 (Friday).
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