Indian bonds may extend losses as higher crude oil prices and U.S. Treasury yields weigh on sentiment. The rupee may also open lower amid worries over the impact of elevated commodity prices on the nation’s fiscal health.
- 10-year yields rose 6bps to 6.64% on Monday
- USD/INR rose 0.1% to 74.2425 on Monday
- Global funds sold net Rs 855 crore of India Stocks Monday: NSE
- They sold Rs 143 crore of sovereign bonds under limits available to foreign investors, and withdrew Rs 32 crore of corporate debt
- State-run banks sold Rs 200 crore of sovereign bonds on Jan. 17: CCIL data. Foreign banks bought Rs 1,480 crore of bonds
Source: Bloomberg
