MUMBAI (Reuters), July 13 – Indian government bonds
The benchmark yield was lower than its U.S. counterparts on Thursday.
The bond yield is hovering near a technical level that’s crucial after
Inflation in the largest economy of the world grew at an annual rate of a
slower-than-expected pace.
A rise in inflation in the United States capped any significant fall in
Local bond yields traders have said.
The benchmark yield on 2033 bonds was 7.26%
After the end of the previous session, 7.0790% at 10:00 am IST
At 7.1160%.
As predicted, the U.S. inflation rate is easing.
Bonds have a larger reaction, pushing the yields down to a critical support
A trader at a bank owned by the state said that traders are able to determine what level is.
“But it would very difficult for yields to cross that
“Local inflation appears to be declining.”
U.S. yields fell on Wednesday following inflation data that raised concerns
The Federal Reserve has been expected to end its program soon
Interest rate hike cycle.
The Fed had indicated two additional increases in
2023. The chances of a 25-bps increase on the 26th July remain at around 89%.
But the other one has also fallen.
Inflation recorded its smallest increase annually in more
The increase in the last two years is more than double what it was before.
The 3.0% is a percentage.
The yield on the 10-year Treasury note eased by 12 basis points, trading at around
The break would have been 3.85%, which is sharply below the key levels.
A sharp rise in the number of people using public transport was a result.
“We are confident that the Fed will raise rates on July 23, and
“Stay on pause until the end of 2023,” said DeepakAgrawal, CIO.
income at Kotak Mahindra Asset Management.
India’s June was accelerated by rising food prices at home
Retail inflation rate has risen to 4.81%, ending four months of ease
Both the May revised 4.31% and the 4.58%
Expected in a Reuters survey
Brent crude oil benchmark contract has risen above $80
The price of oil could rise to $1.50 per barrel, the first time it has been over two months.
India is one the largest countries in terms of inflation.
Importers are the only ones who can buy this product.
Reporting by Dharamraj Dhutia and editing by Nivedita
Bhattacharjee)