The yields on 10-year 8.79% - 2021 bonds were trading 2 basis points higher at 7.85% from its previous close of 7.83% on Monday
Bond yields were almost trading higher on the RBI chief's comments about there being limited room for monetary easing. The Reserve Bank of India’s Chief Duvvuri Subbarao struck a hawkish note on Feb 16 and said there are upside risks to inflation from food and commodity prices, while room for monetary easing is limited.
On the global front, US Treasuries prices slid on Friday on brighter outlooks from consumers, with investors turning to fiscal talks in Washington as a slate of budget cuts looms. Meanwhile, Brent crude rose slightly toward $118 a barrel on Monday, underpinned by expectations of improving global growth despite some weak US data dampening prices at the end of last week. Tensions in the Middle East also lent support.
Back home, the yields on 10-year 8.79% - 2021 bonds were trading 2 basis points higher at 7.85% from its previous close of 7.83% on Monday.
The benchmark five-year interest rate swaps were trading 2 basis points higher at 7.26% from its previous close of 7.24% on Monday.
Eight State Governments have offered to sell dated securities by way of auction for an aggregate amount of Rs 7,070 crore (Face Value) on February 18, 2013.
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 respectively. The auction will be conducted on February 20, 2013 using 'Multiple Price Auction' method.
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