GSpD

Goldman Sachs Group, Inc. (The) Dep Shs repstg 1/1000 Pfd Ser D Fltg

19.1500
USD
1.70%
19.1500
USD
1.70%
18.1000 29.9800
52 weeks
52 weeks

Mkt Cap 1.03B

Shares Out 54.00M

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India bond yields may dip as sentiment stays positive

MUMBAI, Aug 18 (Reuters) - Indian government bond yields are likely to trend lower in early deals on Thursday, as underlying investor sentiment remains positive ahead of an auction of a new 10-year bond on Friday. The benchmark 10-year government bond yield IN065432G=CC is likely to trade in a 7.15%-7.21% band, a trader with a private bank said. The yield dropped 11 basis points to 7.1825% on Wednesday in its biggest single-day fall in two months. "The market is in a bullish zone and we may see some buying today as well. But since there is no fresh positive trigger, the move may be limited," the trader said. The central government will sell bonds worth 330 billion rupees ($4.16 billion) on Friday and the auction includes 130 billion rupees of a new 10-year note, which will replace the existing benchmark bond in coming weeks. The 10-year bond is expected to witness strong demand with cutoff yield likely to be lower by 5-7 basis points from the prevailing 10-year benchmark bond yield, analysts said. On Wednesday, buying was supported by Goldman Sachs comments that it expects the inclusion of Indian bonds in global indexes in 2023. Goldman Sachs analysts Danny Suwanapruti and Santanu Sengupta said they expected India's inclusion to see passive inflows of around $30 billion. India's retail inflation INCPIY=ECI dipped to 6.71% in July, easing for the third month in a row, and missing the 6.78% print forecast by economists in a Reuters poll. Brent crude LCOc1 futures eased on Thursday amid rising output from Russia and worries about a potential global recession. The contract had eased to its lowest level in six months on Wednesday before closing 1.4% higher. India imports bulk of its crude oil requirement and falling oil prices could lead to lower inflation. The 10-year U.S. Treasury yield US10YT=RR rose on concerns over elevated inflation, even as some investors viewed latest Federal Reserve minutes reaffirming a less aggressive rate-hike stance. KEY INDICATORS: ** Brent crude futures LCOc1 down 0.1% at $93.50 per barrel ** Ten-year U.S. note yield at 2.8767% ** Indian states to raise 40 billion rupees via sale of bonds ($1 = 79.3890 Indian rupees) (Reporting by Dharamraj Lalit Dhutia; Editing by Subhranshu Sahu) ((Dharamrajlalit.dhutia@tr.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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