The yields on 10-year 8.79% - 2021 bonds were trading flat at previous close of 7.86% on Friday
Bond yields were treading water as investors were cautions of taking any position ahead of central bank's policy review on Tuesday, where the Apex bank is widely expected to reduce rates by at least 25 basis points. However, globally risk off sentiment on account of unusual bailout proposal for Cyprus could push by bond prices in remaining part of the session.
On the global front, U.S. Treasuries prices nudged higher on Monday on safe-haven demand as investors were jolted by the euro zone's decision to force Cypriot savers to take some losses in exchange for a bailout. Meanwhile, Brent crude slipped below $109 a barrel on Monday, in its steepest fall in nearly three weeks, on safe haven dollar strength.
Back home, the yields on 10-year 8.79% - 2021 bonds were trading flat at previous close of 7.86% on Friday.
The benchmark five-year interest rate swaps were trading 3 basis points lower at 7.16% from its previous close of 7.19% on Friday.
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 7,000 crore and Rs 5000 crore respectively. The auction will be conducted on March 20, 2013 using 'Multiple Price Auction' method
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