The benchmark 10-year yield is likely to move in a 6.95 per cent-6.98 per cent range till the auction, after closing at 6.9674 per cent on Thursday
The benchmark 10-year yield was at 6.9724 per cent as of 10:00 a.m. IST, after closing at 6.9767 per cent in the previous session
The latest data has led to a repricing of interest rate cut expectations, with the probability of a 25-basis-point rate cut by the Federal Reserve in September
On Wednesday, the Federal Reserve Chair Jerome Powell said he was not yet ready to declare victory over inflation but felt that the economy is on a stable path to steady prices
U.S. yields declined on Friday after data showed nonfarm payrolls grew by a slightly higher-than-expected 206,000 jobs in June, but the count for April and May was revised lower by 111,000
India inclusion in JP Morgan Bond Index: The inclusion process will begin on June 28, 2024 and will be completed over a period of 10 months, till March 2025
Inflows into bonds under the fully accessible route, which will be included in JPMorgan's widely-tracked emerging market debt index on June 28, have risen to more than $10 billion
Indian government securities have seen inflows of $10.4 billion since the index inclusion announcement in September 2023
India's inclusion in global bond indices was discussed for nearly a decade before the inclusion in the widely tracked JP Morgan index was finally announced last September
Bond yields shot up on Tuesday and have largely remained elevated after a weakened mandate for Prime Minister Narendra Modi's party
The yield saw its biggest single-session climb since Oct. 6 on Tuesday
The government's fiscal position is expected to strengthen after a better-than-estimated dividend transfer and could further reduce some supply pressure
Liquidity is expected to improve significantly after the RBI's record surplus transfer to the government
The gains will be capped as the central bank's record surplus transfer to the government has boosted market sentiment
Traders were also cautious after the 10-year US yield moved off its recent lows, but continued to remain around the 4.35 per cent mark.
The securities scheduled for buyback were 6.18 per cent 2024, 9.15 per cent Government Securities (GS) 2024, and 6.89 per cent GS 2025
The benchmark 10-year yield is likely to move in the 7.09-7.14% range, following its previous close of 7.1067%
India will report consumer price inflation data today
RBI had announced its plan to repurchase securities worth Rs 40,000 crore
The yield on the benchmark 10-year government bond fell by three basis points to settle at 7.16 per cent, against 7.19 per cent on Tuesday