Bond yields edged a tad lower in noon deals as traders remain hopeful of at least a 25 basis points cut in interest rates later this month. Dealers were closely watching the December inflation data, scheduled to be released next week, as this turns out to be a key print ahead of RBI’s third quarterly monetary policy review.
On the global front, longer-end US Treasuries slipped in Asia on Thursday ahead of an auction of 30-year bonds, with firmness in regional equities helping to add to their weak tone. Meanwhile, Brent crude oil rose above $112 per barrel on Thursday after Chinese trade data beat forecasts, raising expectations that a recovery in the world's second-biggest oil consumer would drive fuel demand higher.
Closer home, the yields on 10-year 8.79% - 2021 were trading 2 basis points lower at 7.88% from its previous close of 7.90% on Wednesday.
The benchmark five-year interest rates were trading steady at its previous close of 7.16% on Wednesday.
The Reserve Bank of India has announced the auction of 91-day and 364-day Government of India Treasury Bills for notified amount of Rs 5,000 crore each. The auction will be conducted on January 09, 2013 using 'Multiple Price Auction' methods.
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