Gold Silver Reports (GSR) – Bonds Headed For Best Week In 11 — Indian sovereign bonds are headed for their best week in 11 helped by the central bank’s open market operation and the minutes of its last meeting which signaled that future rate hikes will be data dependent.
A section of the market too is saying that investors shouldn’t wish for rate hikes on their own and wait for the data. Investors will also watch out for the Rs 12,000 crore of bond auction later in the day. Yield on the 10-year note to stay in a range of 7.72-7.80 percent.
In the currency market, implied opening from the forwards suggest the pair may start trading at 67.85. Asia markets are in the red though the closely tracked South Korean won is up 0.2 percent. Traders expect a range of 67.70-68.10 a dollar in the day. – Neal Bhai Reports (NBR)
